Banpu?s Indonesian unit to list shares at JSX Dec

Thai energy conglomerate Banpu Plc is proceeding with plan to float 30 percent shares of its Indonesian coal-mining holding unit PT.Indo Tambangraya Megah Tbk (ITM) at the Jakarta Stock Exchange.

Prospectus that appeared in national media shows that ITM plans to start debut at the JSX on December 17.

ITM has 99 percent shares at coal miners PT.Indominco Mandiri, PT.Trubaindo Coal Mining, PT.Kitadin, PT. Bharinto Ekatama and PT.Jorong Barutama Greston.

ITM?s mines sold19.3 million tonnes of coal in 2006.

ITM will would the proceed of the IPO to expand coal mining business and to enter power plant sector and to pay for debts.

ITM has yet disclosed its offering price. (alex)