Aneka Gas lists shares on IDX

By Thomas Sembiring

Gas distribution company PT Aneka Gas Industri (AGII) finally listed its shares on the Indonesia Stock Exchange on Wednesday following recent initial public offering (IPO).

The company sold 25 percent shares via the IPO, raising more than Rp 843 billion in proceeds.

?We?re grateful with the trust and interest shown by investors,? said AGII Vice President Director Rachmat on Wednesday.

As has been previously reported, about 40 percent of the IPO proceeds will be used to finance the development of new gas filling stations as the company has set a target to have up to 200 stations from 80 stations currently located in 22 provinces. Another 40 percent will be used to repay debts, and the remainder for working capital.

Aneka, which is part of the Samator Group, plans to build 10 filling stations this year. Company senior official said earlier that sales next near is projected at Rp 2.4 trillion, or about 33 percent increase from the Rp 1.8 trillion target for this year.

Editing by Reiner Simanjuntak