Medco?s subsidiary to launch IPO
Thursday, March 28 2002 - 02:21 AM WIB
PT Apexindo Pratama Duta, a subsidiary of oil and gas firm PT Medco Energi International, will sell between 20-30 percent shares via an initial public offering (IPO) sometime in September, according to company chief financial officer Sugiharto.
Apexindo is a drilling company.
The Bisnis Indonesia daily said that the IPO proceeds would be used to help finance Medco?s expansion programs.(*)