Coal mining producer PT Harum Energy Tbk determined to downsize 150 million shares of the IPO size and set the final price at Rp5,200 per share.
A source familiar with the matter said Harum Energy may downsize the size from initial 650 million shares to 500 million shares.
"Considering the IPO price at Rp5,200 per share, Harum Energy may snap up Rp2.60 trillion cash from IPO," the source said.
The company set targets to be listed in the exchange on 6 October. In that corporate action, the company will be assisted by two underwriters namely PT Ciptadana Securities dan PT Mandiri Sekuritas.
Two global selling agents for Harum Energy IPO are Deutsche Bank and Goldman Sachs.
The source said investor should ask about the downsize to Goldman. "Goldman offered more shares during the IPO than the other underwriters. Investor could ask to Goldman about the possible downsize," the source said.
Previously, Harum Energy and the IPO underwriters offered the shares at IDR5,000-Rp6,300, enabling it to grab Rp3.25 trillion-Rp4.09 trillion.
In the IPO, PT Karunia Bara Perkasa (KBP) as the major shareholders will sell its shares up to 450 million. The rest of shares, i.e. 200 million, are new shares.
Mobile phone of President Director Ciptadana Securities Ferry Budiman Tanja is unable to be reached, while Harum Energy President Director Ray A. Gunara always doesn't want to respond.
Disclosure: No position at the stock mentioned above.
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