Aug 20, 2010

CIMB arranges US$200 mio Borneo IPO

A Malaysian owned CIMB Securities Indonesia is processing an initial public offering (IPO) of a commodity company worth as much as US$200 million.
CIMB Securities President Director Bernard Thien, as reported by Bisnis Indonesia today, said that the company is planning to raise 30% share, using the financial report dated June 2010. The company is preparing the required document to get pre-listing license from the market authority.
“We have talked to PT Bursa Efek Indonesia [BEI]. The document will be probably processed by next month. The name of the company cannot be revealed since it is still in a process,” he told the press last night.
A Bisnis source said CIMB is one of three lead underwriters mandated by PT Borneo Lumbung Energy, parent company of coking coal producer dubbed PT Asmin Koalindo Tuhup.
"Borneo has mandated CIMB, Credit Suisse, and Morgan Stanley to arrange and manage the IPO," the source said. 

Disclosure: No position at the stock mentioned above.  

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