Bhakti Energi delays IPO
Thursday, July 16 2009 - 03:15 AM WIB
Coal mining firm PT.Bhakti Energi Persada (BEP) delays plan to float shares at the Indonesia Stock Exchange to next year, a company?s top executive said on Thursday.
President Director Jeffrey Muljono said that IPO was likely to be delayed to next year due to ?quiet market condition.?
Earlier Jeffrey said the company would conduct IPO by the end of the year.
BEP has four low-rank coal mines at pre-production stages in East Kalimantan, namely: Pesona Khatulistiwa Nusantara, Persada Multi Bara, Bumi Murau Coal, and Telen Eco Coal with total reserves of 5.7 billion tonnes. (bernard)