PTBA secures Rp15,9 billion from IPO
Monday, February 17 2003 - 12:54 PM WIB
State-owned coal miner PT Tambang Batubara Bukit Asam (PTBA) reported Monday that until January 31, it had secured unaudit net proceeds of Rp15.92 billion (US$=Rp8,905) from its initial public offering (IPO).
Total proceeds of the IPO amounted to Rp18.11 billion, and total expenses reached Rp2.19 billion, the company said.
As previously reported, in mid-December of last year, PTBA offered some 346.5 million shares at a price of Rp575 each, through the Jakarta Stock Exchange and the Surabaya Stock Exchange.
The company on Monday did not disclose the allocation of the proceeding, but earlier reports said the government would use most of the proceeds to finance the state budget.
PTBA operates a huge coalmine in Muara Enim in South Sumatra province, and another coalmine in West Sumatra. (robert)