Aug 11, 2010

Harum, Indofood seek IPO approvals

Two companies PT Harum Energy and PT Indofood CBP have filed registration to Capital Market Supervisory Agency (Bapepam-LK) in a bid to seek IPO approval for this year. Coal mining company PT Berau Coal Energy Tbk (BRAU) has obtained a green light from Bapepam-LK.
Eddy Sugito, Director of Indonesia Stock Exchange (IDX), said the upcoming proposed IPOs are Harum Energy, Indofood CBP, PT Tower Bersama, and PT Agung Podomoro.
"We haven't provided approval for IPO of PT Bumi Mineral Resources [subsidiary of PT Bumi Resources Tbk]. There are several conditions should be accomplished by Bum," he said.
But, he couldn't confirm whether the conditions required might delay the IPO. "It is now underway."
Bumi Resources Mineral plans to snap up US$150 million cash from the IPO. PT Danatama Makmur is local brokerage mandated as underwriter for the IPO, working together with international arrangers Credit Suisse and UBS Securities.   

Disclosure: No position at the stock mentioned above.

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