Jakarta, (28/9). The Indonesian Government will put an auction for 2 sukuk (re-offering) h IFR0006 and IFR0007. This sukuk action is to be done in fulfilling the target of state budget (APBN) in 2010.
The auction will be held on October 05, 2010, as accordance to the head of relations of the Ministry of Finance Herry ZV Soeratin, with bank Indonesia as an auction agent.
“The nature of this auction is transparent using multiple pricing method, all investors and institution could place their bids on the auction.” Said Herry.
As of the minister of finance decree no. 11/PMK.OS/2009 dated February 2, 2009, this auction will be participated by the competitive or non competitive and the deposit insurance company. For individual who wish to place the auction for himself he could only place the bid with competitive method.
More over Herry said that the winner of the auction which places the competitive bids will get the return as according to their yield bid placement, while the non-competitive bids will get return based on weighted average yield from the winners. The placement for non-competitive is 30% from the winner placement.
“The settlement is to be done by BI-SSSS (Bank Indonesia - Scrip less Securities Settlement System) that can only be done by the auction participants, “exclaimed Herry. (Agus Y/nibra www.pkesinteraktif.com)
The government will put auction for 2 Sukuk
