JAKARTA: PT Andalan Artha Advisindo Sekuritas is preparing a coal miner initial public offering with IDR800 billion targeted proceeds.
The IPO might be conducted this year or early next year, said AAA Securities’s Vice President Jimmy Randiatmoko.
“The IPO is still under process. We will use either June 2011’s financial statement or September 2011.”
He refused to detail the name of the company but claimed that the miner has 1.5 million ton per year output.
“The proceeds will be used for company development such as land expansion in Kalimantan and additional fleet.”
President Director Th Andri Rukminto assured the statement. Besides IPO, AAA Securities is also processing two companies bond issuance namely PT Sarana Multigriya Finansial (SMF) and PT BPD Maluku. (T05/msw)
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