Indika expects to IPO this year

Local firm PT Indika Inti Energi (Indika) scheduled to initial public offering (IPO) this year, Investor Daily reported on Friday.

"Indika plans to list its shares at stock exchange in not later than the first semester of 2008? a corporate executive involved in IPO said in Jakarta on Thursday.

PT Danareksa Sekuritas would act as the underwriter of the listing of the shares, the source said.

Indika, established in 2000, is a privately-owned investment holding company. Its major investment assets include a 46 percent stake in East Kalimantan coal miner PT Kideco Jaya Agung and a 100 percent stake in Tripatra Group.

Kideco, the major cash flow provider to the holding company, commenced its commercial operations in 1993, with a 30 year CCOW valid until 2023. Tripatra is a leading engineering, procurement and construction (EPC) and operations and maintenance (O&M) service provider in Indonesia with a focus on energy and infrastructure projects. (*)