Jul 26, 2010

Harum Energy files IPO documents

Coal mine player PT Harum Energy filed registration of initial public offering (IPO) to Indonesian's Capital Market and Supervisory Agency (Bapepam-LK) last week.
As reported by Bisnis.com, Harum Energy's IPO has been arranged by PT Mandiri Sekuritas, PT Ciptadana Securities, Deutsche Bank, and Goldman Sachs. Harum Energy plans to tap a US$400 million IPO.
Initially, the company aimed to list stocks in the first half this year.But it delayed the IPO. Harum Energy, holding company of coal mining PT Tanito Harum, aims to offload 28% stakes or around 800 million new shares during initial public offering (IPO) scheduled in August or September this year. 
Eddy Sugito, Director of Indonesia Stock Exchange, said Harum Energy has submitted a preliminary document of the IPO to the stock market regulator.
"They will issue 800 million of new shares during the IPO. Outstanding shares are around 2.8 billion shares," he told Insider Stories today.
Harum Energy, which is controlled by Grup Tanito Harum and owned by Indonesia tycoon Kiki Barki.
Disclosure: No position at the stock mentioned above.
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