Govt sets price of PTBA at Rp 650-Rp 750 per share
Friday, June 18 2004 - 03:27 AM WIB
The government has set the price of the state-owned coal miner PT Tambang Batubara Bukit Asam (PTBA) at between Rp 650 to Rp 750 (US$ = Rp.9,400) per share for its forthcoming secondary share offering, the Investor Daily Indonesia reported in its Thursday edition.
“The book building and offering period for the shares will be between June 21 to June 23, State Minister for Stet Enterprises Laksmana Sukardi told reporters on Thursday in Jakarta.
The offering’s underwriter PT Danareksa Sekuritas earlier said the government will get around Rp 200 billion to Rp 300 billion from the sale of its 12.4 percent stake. The government has currently 83.74 percent ownership in the company.
During a road show to several Southeast Asian countries and Hong Kong, foreign institutional investors have shown strong interest in buying the shares of PTBA, company’ s president director Ismet Harmaini said.
The shares will be listed on the JSX either June 27 or June 28, 2004.(*)