Antam units plan IPO

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) plans to push three of its subsidiaries to raise public funds via initial public offering (IPO) in the stock market.

Antam President Director Tato Miraza was quoted by Kompas.com as saying Monday that his company would first study the regulations regarding the planned IPO for the subsidiaries.

The subsidiaries include PT GAG Nikel, PT Cibaliung Sumber Daya (CSD), and PT Marga Citra Utama (MCU). ?We?ll study the regulations first, afterward we?ll decide which will launch IPO first,? he said.

GAG and MCU have yet to officially begin commercial operation. GAG is engaged in mininig exploration and operation. According to the end September 2013 fiancial report of Antam, GAG has total assets of about Rp 82.39 billion. Meanwhile, MCU, which is engaged in the mining sector, has total assets of Rp 138.57 billion, while gold mining firm CSD has total assets of Rp 1.14 trillion. (*)