Pamapersada delays IPO
Monday, June 18 2001 - 11:24 AM WIB
Coal mining contractor PT Pamapersada Nusantara, a unit of PT United Tractors confirmed Monday it has delayed indefinitely plan to offer 200 million shares in July due to poor sentiment on local stocks.
Earlier, United Tractors, which distributes heavy equipment for mining development, has planned to sell some of its subsidiaries including coal mining PT Berau Coal to help settle its debts, of which about US$94 million in foreign currencies debts and Rp 49 billion (US$ 11,300) in local debts would mature in 2002. (*)