Jul 5, 2011

Atlas Resources to offload 17% IPO

Coal miner PT Atlas Resources aims to offload 17% new shares of its enlarged capital after Lebaran. Eddy Sugito, Director of Indonesia Stock Exchange, said Atlas Resources has held a mini expose to the exchange last week. 
According to him, Atlas Resources has mandated PT UBS Securities and PT Indo Premier Securities as the IPO's lead underwriters.
Atlas Resources currently manages operation and explorations in several coal mine locations in East Kalimantan, South Sumatra and Papua. The company is scouting coal output of 2 million tons-2.3 million tons by end of this year.
Disclosure: No position at the stock mentioned above.  

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