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Sunday, June 6, 2010

Berau and Bank Jabar Banten ensures the IPO this year

Irvin Avriano A.

Berau and Bank Jabar Banten ensures the IPO this year

JAKARTA: PT Berau Coal Energy and PT Bank Jabar Banten ensures the initial public offering (initial public offering/IPO) of shares plan this year. Their public offering document had been submitted to the Capital Market Supervisory and Financial Institution Agency (Bapepam-LK) this weekend.

Previously, one of Berau Energy official, its commisioner Bob Kamandanu, noted the potential stock emitter will postpone its IPO plan.

In the other side, Bank Jabar Banten ensuring after delayed to list their stock in 2008 and 2009. PT CIMB Securities Indonesia and PT Bahana Securities are still appoint as the IPO underwriter.

"Our bureau has received [the Berau Energy document] this week, there are two emission underwriter, PT Recapital Securities and PT Danatama Makmur Securities," said Real Sector Corporate Finance Assessment Bureau Chief of Bapepam-LK Anis Baridwan to Bisnis in Friday.

But he can not explain the portion of company stock that will be released to the public in the IPO because it can not be disclosed related to the process that still going.

Based on the Bisnis record, Berau Energy will issue as many as 18,2% of its shares, or 7 billion sheet of shares, to the public and is expected to inject funds amounting to US$100-200 million to the company. Approximately it will make the caompany value of the company reached IDR7,2trillion--IDR12,1 trillion.

Berau Energy is a joint venture company between PT Armadian Tritunggal as much as 51% stake, Rognar Holding BV 39%, and a Japanese Company, Sojitz Corp 10%.

Their concession area stands around 1.200 square Km in the north part of East Kalimantan, approximately exist in 300 Km north side of the province capital, Samarinda. Tanjung Redeb is the principal town in Berau Regency. The company are the parent company of the fifth largest coal mine, PT Berau Coal.

They have three main mine, namely Binungan, Lati, and Sambarata.

Besides Berau Energy, Bapepam-LK is also still processing the IPO documents from PT Bank Jabar Banten that plant to issue as much as 20% - 30% of its shares to the public.

"We have received a document from the Bank Jabar Banten IPO this week," said Corporate Finance Assessment Services Sector Bureau Chief Bapepam-LK Noor Rachman.



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