MARKETS | Cesar Tordesillas, Indonesia

Bank Mutiara attracts 3 investors

Three investors have officially expressed interest in purchasing the Bank Mutiara.


Formerly known as Bank Century, the once-ailing bank's shares are being offered to the public.

Deposit Insurance Agency or LPS financial director and head of the steering committee for the Bank Mutiara offering, Mirza Mochtar, however, refused to name any of the investors.

LPS, which owns a 99.9 percent stake in Bank Mutiara, recently started offering its stake.

LPS hopes to sell the stake for Rp 6.7 trillion or US$790.6 million, the amount disbursed in the 2008 bailout when it was known as Bank Century .

The agency says it will not release the stake and will start offering it again next year if no one agrees to the amount. LPS earlier said nine investors, including foreign investors, were interested in purchasing the bank.

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