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Panin Bank Shariah (PBS) recorded itself as the fi rst Indonesian Shariah bank to launch an IPO and list its shares at the Indonesia Stock Exchange (IDX). On the 30th December 2013 it offi cially received the declaration of eff ectiveness from Indonesia’s Financial Services Authority, known by its Indonesian abbreviation as OJK. In this IPO, PBS released 4.75 billion shares or 47.5 % of its enlarged capital at a price of IDR100 (US$0.008) per share. According to its CEO, the bank achieved around IDR475 billion (US$39.27 million) through this IPO.

By Farouk Abdullah Alwyni

Islamic Finance News