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T Aqua Golden Mississippi, the nation's largest bottled mineral water producer, expects to complete the process of voluntarily delisting itself from the stock market this year.

"We are still waiting approval from Bapepam *the stock market regulator*. Hopefully all the process of delisting could be finalized this year," president director Parmaningsih told a press conference after the company's annual shareholders meeting on Friday.

Parmaningsih said the company had decided to go private because its shares traded by the investing public were no longer liquid.

The Indonesia Stock Exchange (IDX) data shows that during the January-May period, the company's shares changed hands only nine times and with a low volume.

Aqua shares were valued at Rp 244,800 (US$23.5) on June 4 before being suspended over the delisting plan.

After securing approval from Bapepam, Parmaningsih said that the company would begin selecting an independent appraiser to determine the price to bid for the shares held by the investing public. Aqua's controlling shareholder, PT Tirta Investama, would be the company to buy up the shares now held in the market, she added.

Aqua is 94.35 percent owned by Tirta and 5.65 percent by the public. The Paris-based Danone Group, one of the world's leading dairy products producer, has a 74 percent stake in Tirta.

Bapepam's head of division of financial report inspection for real sector companies Anis Baridwan said that his office was still studying Aqua's plan.

"However, the decision in the end will lay in the hands of shareholders not Bapepam," Anis said, referring to the existing regulation that required the company to hold an independent shareholders meeting to discuss the go-private plan.

The company targets that this year's gross revenue would jump 30.31 percent to Rp 165 billion.

Established in 1973 and with a total of 14 factories, Aqua is the largest producer of bottled mineral water in Indonesia.