Feb 11, 2011

Buana Listya Tama seals IPO approval

PT Buana Listya Tama, oil & gas freight shipping company has obtained pre-listing approval from Indonesia Stock Exchange (IDX).
The subsidiary of PT Berlian Laju Tanker Tbk plans to dispose 39% of its ownership to public by eyeing US$120 million proceeds from the initial public offering (IPO).
Eddy Sugito, IDX’s Director of Company Valuation, said the pre-listing approval of Buana Listya Tama was issued last weekend following four others prospective issuers that has obtained the approval.
“Buana Listya Tama has obtained its pre-listing approval for IPO. We gave it to them last weekend,” he said, today.
He added that the market regulator is still processing the listing license for PT HD Finance.
The company that engaged in financing industry plans to dispose 30% of its ownership to public at the latest in second quarter 2011. Orang Tua’s business group eyeing Rp100 billion of the IPO proceeds.

Disclosure: No position at the stock mentioned above.

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