JAKARTA: PT Cipaganti Citra Graha postponed the Initial Public Offering Plan from the first semester of this year to Q4/2012 as last year's performance was below expectation.
Cipaganti COO Mulyadi said in the IPO plan the company will use June 2012 financial statements.
He said the company still entrust PT Batavia Prosperindo Sekuritas to handle IPO worth IDR500 billion to IDR750 billion.
About 40% of IPO proceeds will be used for company’s subsidiary development in coal mine sector, PT Inti Cipaganti Resources. The remaining proceeds will be used for company business development in heavy equipments and auto service. (T07/TW)
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