Medco names UBS bookrunner for IPO and private placement

JSX-listed energy firm PT Medco Energi International has appointed Europe?s biggest bank UBS AG as bookrunner for the planned private placement and initial public offering (IPO) of its international operation.

Medco?s Chief Financial Officer Cyrill Noerhadi said on Friday that the private placement of Medco Global, the company manages all the company?s assets outside Indonesia, was expected to be completed in the first quarter of 2008. It will be followed by an IPO of the firm?s shares.

?Maximum stake to be divested through the private placement and IPO is 48 percent,? he said.

Outside Indonesia, Medco has operations in six countries, including the United States, Libya and Cambodia.

The company may list Medco Global?s shares in either London, Singapore or Dubai, he said. (Alex)