Dear all, This is my first email in these forums, so... hi to all of you.
I just got out from Indo Tambangraya Public Expose; the quality of the information provided and the attitude of the presenters made me sick. Despite the thick prospectus, the company & underwriter: 1) Provide next-to-nothing information on how the price was derived at. Bapak Agung Prabowo, representing UBS, the underwriter, in response to the audience questions, said "We provide detailed information in the Prospectus. We believe you can do your own calculation". A rather arrogant response. 2) Even though it was provided on screen as a presentation, they did not provide any handout. The presentation discusses the company's performance and industry situation that will allow us to understand the company more easily (and compare it with others in its industry). I am sure that when those guys go on roadshows, they would provide more information than what they give us (local investors). Also, they would provide straight answers rather than what pak Agung gave during the public expose. It is demeaning to be treated as such. So, I propose that we form some sort of capital market transparency committee/group that promotes transparency (it is also in our best interest, right?) - perhaps coordinated by the leaders/moderators/activits of obrolan-bandar and saham mailing groups. Such committee would function as our voice to the those (arrogant) companies and underwriters. Also, we can use the committee to ask questions directly to the issuers/companies. If done correctly, I am sure we will get the support from Bapepam, BEJ and other authorities. What do you think? IS
