Sapta Indra to launch IPO next year

Coal mining contractor PT Sapta Indra Sejati (SIS) expects to launch an initial public offering (IPO) in early next year, Investor Daily reported Friday.

Director of Danareksa Sekuritas, Orias P. Moedak, acknowledged that his company was handling SIS?s IPO. "But it is still in an early stage, and we cannot give any detailed information about the plan," he said.

SIS has appointed BNP Paribas and Danareksa Sekuritas as underwriter for the company?s planned IPO.

Earlier report said that the company would float 20 percent stake at the Indonesian stock exchange to get US$300-350 million of fresh money.

Saptaindra Sejati is a coal-mining contractor in Kalimantan and subsidiary of Dianlia Group, which controls South Kalimantan miner PT.Adaro Indonesia. (*)