indonesian-coal-miner-seeks-listing

Indonesian coal miner seeks listing

Indika Energy hopes to raise up to $400 million to fund its plans to become an energy conglomerate.

Anette Jönsson

April 17, 2008

PT Indika Energy looks set to become the first Indonesian company to launch an initial public offering open to international investors this year after the bookrunners started the investor education yesterday. According to sources, the energy conglomerate, which owns 46% of IndonesiaÆs third largest coal mine, is aiming to raise about $300 million to $400 million from the offering.

The company is selling 22% of its share capital or 937.3 million shares. About 70% of the deal will be offered to international investors, while the remaining 30% will be set aside for domestic accounts. The actual bookbuilding is expected to start on May 5, with the pricing scheduled for May 20 and the trading debut...

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