Sewatama to divest 25% stake to strategic investors
Monday, May 23 2016 - 03:23 AM WIB
IDX-listed integrated coal mining firm PT ABM Investama Tbk said its subsidiary PT Sumberdaya Sewatama, which is engaged in power plant development, plans to divest up to 25 percent stake to strategic investors through the issuance of mandatory convertible bond (MCB), Investor Daily reported on Monday.
The paper quoted ABM Finance Director Adrian Erlangga as saying that Sewatama previously issued MCB worth Rp 300 billion to PT Indonesia Infrastructure Finance, which was then converted into about three percent stake in the company.
?We?re discussing it (the MCB plan) with companies from Japan, Singapore and at home to have interest in Sewatama,? he said.
He added that Sewatama will continue to build power plants in the country with a target to develop a total of 1,750 MW of power plants by 2020, of which 1,506 MW will be fueled by coal. (*)