Indika gets Petrosea?s refloat shares extension approval

Publicly listed energy company PT Indika Energy Tbk on August 25 has bagged deadline extension approval from the Capital Market and Financial Institution Supervisory Body (Bapepam-LK), to refloat at least 16.6 percent of PT Petrosea Tbk shares, to end January 2012 from the initial schedule of August 28, Indika said in statement.

Indika is obliged to refloat at least 16.6 percent of Petrosea shares in order to increase the outstanding shares held by the public within two years after its acquisition of the company in 2009. As reported, in July, 2009, Indika acquired 81.9 percent of Petrosea shares from Clough International and in September in the same year it bought another 16.6 percent from the public through a public offer. (denny)