Jan 27, 2011

Tugu Pratama eyeing Rp750 bio IPO

Indonesia's largest oil and gas PT Pertamina (Persero) expects its subsidiary PT Tugu Pratama Indonesia to bag Rp750 billion in the upcoming IPO.
Finance Director of Pertamina Mohamad Afdal Bahaudin yesterday officially informed the corporate action plan.
The insurance company, Tugu Pratama since 3 years ago has set up a plan to go public but it never been realized until now.
Pertamina is the major shareholder in Tugu Pratama by acquiring 65% shares, while PT Sakti Laksana Prima has 17.60%, Siti Taskiyah owns 12.15% and the remaining of 5.25% controls by Mohamad Satya Permadi. According to the general meeting of shareholder in June 2010, the IPO will be realized in the first quarter of 2011.

Disclosure: No position at the stock mentioned above.  

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