Apr 16, 2011

Bahtera Niaga sets 20% IPO in June

Oil and gas offshore services company PT Bahtera Niaga Internasional is poised to hold an initial public offering (IPO) scheduled in June of this year.
Indonesia Stock Exchange Director Eddy Sugito said Bahtera Niaga plans to sell a maximum of 20% shareholding during the IPO.
"Bahtera Niaga has set a mini expose to IDX," Eddy said. The company has also mandated PT Erdikha Sekuritas as the IPO underwriter.
In line with Bahtera Niaga,  Diversified plantation company PT Jaya Agra Wattie (J.A. Wattie) is aiming to propose a Rp700 billion initial public offering (IPO) in May 2011.
OSK Nusadana Securities President Director Halum Susanto said OSK will team up Mandiri Sekuritas as lead underwriters of Jaya Agra IPO.
"Jaya Agra IPO has been filed to Bapepam-LK. The IPO size is probably Rp700 billion," he said.
Indonesia Stock Exchange Director Eddy Sugito previously said Jaya Agra is planning to float 30% stake to public investor. Jaya Agra is the plantation company of rubber, palm oil, tea, and coffee.

Disclosure: No position at the stock mentioned above.

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