Straits Asia expects listing in Nov this year
Thursday, October 26 2006 - 05:43 AM WIB
Straits Asia Resources Ltd, a subsidiary of Australian miner Straits Resources Limited, expects listing in November this year in the Singapore Stock Exchange, Bloomberg reported Thursday.
Straits Asia plans to sell 320 million shares for as much as 72 Singapore cents apiece, Bloomberg quoting the company's filing to the Singapore central bank as saying on Thursday.
The company is seeking to raise S$230 million ($147 million) in an initial share sale.
The Singapore unit of Macquarie Bank Ltd., Australia's largest securities firm, is the issue manager and the lead book runner for the sale.
Straits Asia comprising the Sebuku coal mine, the Singapore-based trading operation and its marine and resource-related infrastructure project development business.
Straits has 100 percent stake in PT Bahari Cakrawala Sebuku which operates the coal mine in South Kalimantan. (*)