PTBA to commence secondary offering

Ministry of state enterprises said on Monday it had agreed to divest further 12 percent shares of state coal mining firm PT Tambang Batubara Bukit Asam (PTBA) through secondary offering, which will be held in the third week of June.

According to the ministry?s release, PT Danareksa had been appointed as lead underwriter for the public offering.

Upon completion of the secondary offering, stated the release, Government of Indonesia's ownership in PTBA will decline to 65 percent.

Meanwhile, PTBA president director Ismet Harmaini said that company's main contractors shipping company PT Arpeni Pratama Ocean Lines, mining contractor firms PT Sumber Mitra Jaya and PT Pamapersada Nusantara had indicated interest to purchase PTBA?s shares.

Offering price will be determined later this week, said Ismet.

Meanwhile, PTBA?s director Sukrisno said PTBA is in the process of acquiring one producing coalmine in East Kalimantan. He declined to give the target?s name but said the mine produces coal at calorific range of 6,300-6,500 Kcal/kg and production capacity could be expanded to up to 3 MTPA.(godang)