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Clifford Chance advises on US$200 million IPO of Indonesia's Blue Bird

12 November 2014

Clifford Chance advises on US$200 million IPO of Indonesia's Blue Bird

Leading international law firm Clifford Chance has advised Credit Suisse, Danareksa Sekuritas and UBS as joint global coordinators on the international aspects of the US$200 million (IDR 2.4 trillion) initial public offering and listing on the Indonesia Stock Exchange of PT Blue Bird Tbk, the Indonesian taxi operator. The company sold 376.5 million shares at US$0.68 (IDR 8,175) per share.

Partner Johannes Juette led on the deal and said, "We are delighted to have advised on PT Blue Bird's landmark initial public offering in Indonesia. Blue Bird's ability to complete a transaction in volatile markets speaks to its strengths, and we are seeing signs of renewed activity in Indonesia's capital markets, now that the country has completed another successful governmental transition."

Johannes was assisted by associate Jonathan Crandall.

Blue Bird is Indonesia's largest taxi operator. It has a fleet of 25,000 taxis across Indonesia, and serves more than 8.5 million passengers per month.