as published in Bisnis Indonesia daily newspaper
Monday, 07/12/2009 00:00 WIB
Stock price of Latinusa IDR325
JAKARTA: PT Pelat Timah Nusantara (Latinusa) Tbk set the par value in the IPO at IDR325 per share unit so that it could generate some ID164 billion.
President Director of Latinusa Ardhiman TA said there is high interest expressed by investors to the IPO with the oversubscribed of more than twice. Latinusa divested 20 percent of shares to public or about 504.6 million shares.
"The fund will be allotted for capital expenditure and plant facility revamping and add new scroll cutting to increase the production capacity from 130,000 tons into 160,000 tons per year," said Ardhiman in press release last week.
The company expected to meet national consumption worth 180,000-200,000 tons of our plant production.
PT Krakatau Steel (KS) as the major shareholder has shifted the possession of 55 percent to the investment consortium, Nippon steel.
The takeover of KS to the consortium, consisting of Nippon Steel Corporation, Mitsui Co Ltd, Nippon Steel Trading Ltd, and Metal One Corp, will be done to ease corporate major problems on raw materials supply. The company needs tin mill black plate (TMBP). (Bisnis/21)