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Bank Syariah Mandiri eyes IPO in 2020

Indonesia's PT Bank Syariah Mandiri is looking to list by 2020 in a bid to improve the bank's performance, IDNFinancials reported Jan. 2, citing Director of Finance and Strategy Ade Cahyo Nugroho.

The lender is looking to hold a roadshow in the fourth quarter to attract investors for the public float, Nugroho said, adding that parent PT Bank Mandiri (Persero) Tbk would remain the dominant shareholder following the proposed IPO.

Bank Syariah is targeting to attract foreign investors during the roadshow, the report noted.