BTN TO GO PUBLIC AT YEAR END

Jakarta, Aug 7 (ANTARA) - State-owned PT Bank Tabungan Negara expects to go public by the end of this year and will use its June financial report for the purpose, its finance director, Saut Pardede, said.

"We are just waiting for an approval from the state enterprise minister," he said here on Thursday.

He said he had already submitted three candidate underwriters to the minister but he declined to tell their names.

He said the minister still had to make several considerations with regard to the approval.

Among the considerations were market conditions and timing. "Technically BTN is ready to undergo the process of public offering. It has also secured a license from the House of Represenatives and the finance ministry for it," he said.