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View all search resultsBaramulti set to list on bourse in Q4
JAKARTA: Coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter of the year after it conducted a presentation before the Indonesia Stock Exchange (IDX) authority last week
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J
AKARTA: Coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter of the year after it conducted a presentation before the Indonesia Stock Exchange (IDX) authority last week.
According to Hoesen, the bourse director of corporate listings, Baramulti will offer new shares of about 10 percent of its enlarged capital.
“The amount of funds raised will depend on the share price. The company will use proceeds from the issuance to support its working capital and expansion,” Hoesen said on Monday.
Hoesen added that Baramulti, which holds a concession area in Kalimantan, had appointed PT CIMB Niaga Securities as underwriters for the issuance.
According to Hoesen, Baramulti will use its financial report of April for the initial public offering.
