Banpu seeks US$200 million through Indonesian IPO
Thursday, February 22 2007 - 02:03 AM WIB
PT Indo Tambangraya Megah, a mining holding company controlled by Thailand?s mining and energy company Banpu PCL, will soon make an initial public offering (IPO) of 20 percent to raise US$200 million, Bisnis Indonesia reported Thursday.
The IPO will be held this year, the daily said.
Indo Tambangraya Megah holds majority shares in several mining companies in Indonesia, including PT Trubaindo Coal Mining, PT Indominco Mandiri, PT Kitadin Corporation, PT Bharinto and PT Barasentosa.
Eight investment banks including ABN Amro, Asia Securities, Credit Suisse, Citigroup, JP Morgan Securities, Merrill Lynch and UBS Securities have reportedly been invited in regards to the planned IPO.
Earlier report said that the planned IPO of Banpu?s business unit at the Jakarta Stock Exchange (JSX) was aimed to minimize the risk that a foreign company has to take as well as to expand its business. (*)