Harapan Borneo plans IPO
Wednesday, November 13 2013 - 01:32 AM WIB
Coal mining company PT Harapan Borneo Internasional (HBI) plans to launch an initial public offering (IPO) in 2015, selling 20 percent shares to the public to raise funds to help finance exploration work in East Kalimantan, Bisnis Indonesia daily reported Wednesday.
HBI President Director Honardy Boentario said that the company was still making the necessary preparations.
HBI owns five coal concessions in East Kalimantan mainly in Samarinda and East Kutai, with concession acreage ranging from 200-11,600 ha. (*)