Dec 14, 2010

Bumi Kencana Sakti eyes Rp1 trio IPO

Coal mining company PT Bumi Kencana Eka Sakti is considering to sell shares via Rp1 trillion initial public offering (IPO) scheduled in the first quarter of 2011.
Affiliated brokerage firm PT Sinarmas Sekuritas has been mandated as underwriter for Bumi Kencana Sakti's IPO.
"We consider the size which will be disposed next year," said Sinarmas Sekuritas President Director Kokaryadi Chandra said. 
He said along with the IPO, potential strategic partners will be allowed to buy stake in Bumi Kencana Sakti. Dian Swastatika recently acquired Bumi Kencana Sakti at Rp48.8 billion from PT Gerbangmas Tunggal Sejahtera.

Disclosure: No position at the stock mentioned above.  

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