Aug 30, 2010

Borneo Energy files Rp3 trillion IPO

PT Borneo Lumbung Energy & Metal, parent company of coking coal PT Asmin Koalindo Tuhup, has filed documents of Rp2 trillion-Rp3 trillion initial public offering to Indonesia Stock Exchange (IDX).
"We have received IPO documents from Borneo last week. They propose to offload 25% stakes," said IDX Director Eddy Sugito said today.
According to him, Borneo management plans to present a mini expose to IDX. Borneo Energy has mandated three lead underwriters, CIMB Securities Indonesia, Credit Suisse Securities Indonesia, and Morgan Stanley. 

Disclosure: No position at the stock mentioned above.

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