Antang offers stakes for sale
Monday, March 11 2002 - 02:49 AM WIB
South Kalimantan based coal-mining firm PT Antang Gunung Meratus is in offering sell its stake to interested buyer and has appointed local securities house Trimegah Securindolestari as financial advisor.
The company president Lunardi Satriaputra when contacted by Petromindo.Com declined to give further detail about how many percent of the company?s shares is going to be offered.
He only said currently Antang is offering to sell the shares to the ministry of finance as required by coal contract of work. Under the second-generation coal contract of work, government is the given the first right of refusal should shareholders decide to sell their shares. The offer would lapse if the government does not respond in 30 days
The company?s shares are currently 50 percent held by PT Baramulti Suksessarana and a number of local businessmen. Antang produced some 350,000 tons of coal in 2001. (godang)