Jun 28, 2011

LSE welcomes Bumi to main market

Bumi Plc, formerly dubbed dubbed Vallar Plc, today joins the main market of the London Stock Exchange (LSE), with a premium listing, becoming the third Indonesia focussed company to join the main market with a premium listing.
Bumi comprises coal mining businesses PT Bumi Resources Tbk with 25% shareholding and becomes 28.9%, and 84.7% shareholding in PT Berau Coal Energy Tbk, and a portfolio of base metals, iron ore and precious metals assets of PT Bumi Resources Minerals Tbk with upcoming ownership of 75% stake.
Bumi Plc has significant coal producing assets in Indonesia and is incorporated in the UK.
“We are delighted to welcome Bumi to the main market today. A London flotation affords the company access to the broadest pool of international capital in the world, listing, and trading alongside its global peers. A premium listing ensures it is subject to the highest regulatory standards, and makes it eligible for inclusion in the internationally recognised and tracked FTSE indices,” said Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, in an official statement today.
The company eligible to be the first Indonesia-focused company to enter FTSE100. About 52 companies from South East Asia now listed on London Stock Exchange markets. 

Disclosure: No position at the stock mentioned above.  

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