May 30, 2011

Star Petrochem to sell 2 bio shares in IPO

Indonesia's stock market regulator Bapepam-LK stated that it has processed at least 11 prospective issuers that will enter the market in this midyear.
The last processed company, PT Star Petrochem Tbk, owned by Indonesia businessman Ronald Susilo, plans to release 2 billion shares and 98 million maximum warrants.
PT Restyle Concept, Recapital Group subsidiary on design and property, postponed its IPO which originally scheduled in 2Q/2011 with PT Recapital Securities as the underwriter.
In other development, cable manufacturer PT Kabelindo Murni Tbk plans to conduct rights issue this year to obtain extra capital and to increase its outstanding shares.

Disclosure: No position at the stock mentioned above.

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