Dec 6, 2010

Bapepam approves Martina Berto IPO

Cosmetics maker PT Martina Berto Tbk obtained the approval from Bapepam to conduct initial public offering (IPO) in order to snap up IDR300 billion.
A source who familiar with this matter said by obtaining approval, the manufacturer of Sari Ayu cosmestics will soon make an offer to investors.
"The effective notice [approval] have been obtained and the public exposure and offering to investors will probably be conducted immediately next week," he said this weekend.
In the corporate action, the subsidiary of Martha Tilaar Group business plans to dispose 34% shares into the market and has already appointed PT Trimegah Securities Tbk as the underwriter.
President Director of Trimegah Omar S. Anwar didn’t provide any confirmation concerning the above information.

Disclosure: No position at the stock mentioned above.  

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