Alfa Energi to float shares
Tuesday, May 16 2017 - 09:24 AM WIB
PT Alfa Energi Investama Tbk, a small coal mining and trading firm with concession in Kutai Kartanegara regency, East Kalimantan is planning to float 23.08 percent shares at the Indonesia Stock Exchange (IDX) to raise Rp.120-150 billion (US$=Rp.13,300).
The company will officially float its shares on June 7, 2017.
The company plans to use 30 percent of the proceed to pay debts and 50 percent to develop mine?s infrastructures and jetty.
The company owns indirectly a coal mine, PT Alfara Delta Persada, an IUP OP of 2.089 hectar, in Anggana, Kutai Kartanegara with mineable reserves of 21 million tonnes . The company expects to produce 400,000 tonnes this year. (*)