Bank Muamalat Indonesia Syariah

Bank Muamalat eyes US$300m from IPO

Indonesian syariah lender PT Bank Muamalat Indonesia Syariah aims to raise up to US$300 million (RM912 million) through an initial public offering of at least 20 per cent of its capital. The IPO, subject to approval by the market regulator, is expected by the second quarter of this year and will make Muamalat the first syariah bank to list on the Indonesian stock exchange. Bank Muamalat has 2.5 million customers. Indonesia is expected to host several IPOs this year as companies look to tap excess liquidity in the stock market, which reached an all-time high this week.

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