Lancarjaya plans IPO in 2015
Wednesday, January 23 2013 - 01:12 AM WIB
Coal mining services company PT Lancarjaya Mitra Abadi (LMA) plans to launch an initial public offering (IPO) in the first semester of 2015, hoping to raise around Rp 1 trillion in proceeds.
?We initially wanted to launch the IPO in 2014, but considering that the coal market is still down, we decided to move it to 2015,? Finance and Accounting Director Alex Sembiring told Petromindo.com late Tuesday.
Meanwhile, in 2013, the company has set an overburden removal target of 1.5 million bcm, which is expected to be realized from working on the coal mining concession owned by PT Indo Tambangraya Megah Group in West Kutai, East Kalimantan.
?This year we?ll focus on working at this concession, although we?ll also be looking on the possibility of working with other mining owners,? said President Director Dinas Sebayang.
Dinas added that the company is currently developing a hauling road project with PT Wijaya Karya at a concession owned by PT Gunung Bara Utama. ?So we?re not only engaged in overburden removal or land clearing, but also in developing hauling road.?
Set up in 2007, LMA is also engaged in the agro forestry business.
Editing by Reiner Simanjuntak