IDX to delist Indo Setu Bara Resources
Wednesday, September 11 2013 - 03:06 AM WIB
The Indonesia Stock Exchange (IDX) has decided to delist the shares of coal mining company PT Indo Setu Bara Resources Tbk from the bourse on Thursday.
The IDX did not say why Indo Setu has been delisted. It said in a statement obtained Tuesday that the company can re-list its shares back six months after the delisting decision at the soonest, after fulfilling the necessary requirements.
The company is known to hold the license for two low-CV coal concessions in Berau regency with measured reserves of 10 million tonnes and indicated reserves of 12 million tonnes, listed under PT sentra Alam Resources and PT Pratama Sumber Bumibara, covering a total area of 3,600 hectares.
Indo Setu said last year it was seeking partners to help develop the coal concessions.
Editing by Reiner Simanjuntak