Sep 27, 2011

Bahtera parent eyes Rp500 bio IPO

Parent company of PT Bahtera Niaga International plans to dispose 40% stake to public investors in the first quarter of 2012 with a target proceed of Rp500 billion.
Finance Director of Bahtera Niaga Fajar Soeno said the company is in the process to establish the parent company.
According to him, the strategy will be different from the initial plan in which Bahtera Niaga planned to list 550 million shares or 20% stake to the public. Bahtera Niaga is a company with main business as transporter of coal and oil offshore services.

Disclosure: No position at the stock mentioned above.

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