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Thursday, October 7, 2010

Krakatau Steel pocketed president approval

BI/bursa
7/10/2010
Irvin Avriano A.
Bisnis Indonesia

Krakatau Steel pocketed president approval
JAKARTA: Government have approved PT Krakatau Steel IPO plan that been poured in the government decree (peraturan pemerintah/PP).

Two executive in the capital market informed that the approval has been signed by the president on Wednesday.

"The approval has been given, the plan will succeed until the Ministry of State Owned Enterprise give similar approval," said them today.

One of the source said the future stock emitters planned to get pre-effective statement of IPO from Capital Market and Financial Supervisory Agency (Bapepam-LK) on Monday.

Hence, the delayed government approval made the IPO schedule step back for a few days, until the emitters a new schedule for the pre-effective statement on Tuesday.

Pre-effective statement needed by the emitters to continue the IPO process to the bidding process to the future investors.

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