Apr 21, 2010

Harum Energy IPO retreats

PT Harum Energy, a parent company of coal mine producer PT Tanito Harum, delays a US$300 million-US$400 million initial public offering (IPO) of 30% shares due locked up period.
According to Mandiri Sekuritas's Director Kartiko Wirjoatmadjo said, the IPO was initially scheduled in the first half this year.
"Due locked up period, the IPO has retreated to the third quarter this year," he said.
He declined to give further explantation about the IPO size and value.
Kartiko confirmed that Harum Energy's IPO will be underwritten by four underwriters Deutsche Securities, Goldman Sachs, Ciptadana Securities, and Mandiri Sekuritas.
A source familiar with the matter said Harum Energy, controlled by Tanito Harum Group and owned by Indonesian tycoon Kiki Barki, will offload 30% shares into the primary market worth US$300 million-US$400 million.

No comments: