Apexindo spends Rp105.8 billion on five projects
Wednesday, July 16 2003 - 02:29 AM WIB
Oil drilling contractor PT Apexindo Pratama Duta Tbk has used all of its Rp105.8 billion (US$=Rp8020) proceeds from last year?s initial public offering (IPO) for financing several projects, the company said in its report Tuesday to the capital market supervisory agency (Bapepam).
Apexindo launched IPO in June 2002, and less than one month later it listed 200 million shares on the Jakarta Stock Exchange.
The company said it had used Rp95.1 billion of the Rp105.8 billion proceeds to build drilling rigs, while the remaining balance was used to develop its storage facilities, technological system, human resources and training centers.
Apexindo is 77.5 percent owned by publicly listed oil producer PT Medco Energi International, 7.12 percent by PT Herteh Karisma, 0.08 percent by Fadli Ilhamsyah and 11.40 percent by the public.
Apexindo is the first oil-drilling contractor listed on the Jakarta Stock Exchange. (*)