ID :
18714
Tue, 09/09/2008 - 23:12
Auther :
Shortlink :
https://www.oananews.org//node/18714
The shortlink copeid
PT SEMEN BOSOWA TO CONDUCT IPO IN 2009
Jakara, Sept 9 (ANTARA) - Cement company PT Semen Bosowa plans to conduct an initial public offering (IPO) in 2009 to raise around Rp1 trillion in cash to pay its debts, a spokesman said.
"The number of shares to be sold is around 30 percent," the president director of Bosowa Corporation, Erwin Aksa, said at the office of the state minister for state-owned companies here on Tuesday.
Erwin said the process was still being carried out including determining the underwriter, lawyers, legal consultants, appraisal and media relations.
"It is still on a stage of preparations but later it will be adjusted to market conditions," he said.
He said the proceeds from the IPO would be used to pay some of the company's debts to Bank Mandiri and Bank BNI.
"Bosowa's outstanding debts to the two banks total around Rp1.2 trillion. There is already an agreement to restructure the company's debt to BNI," he said.
Talks for a similar agreement with Bank Mandiri would be held soon.
He said besides for paying debts some of the proceeds would also be used as a working capital to increase the plant's capacity.
"The plant's capacity is now around two million tons a year and will be increased to four million tons," he said.
Aksa said Bosowa Corporation was also planning to enter the toll road business by acquiring a section of the Jakarta Outer Ring Road (JORR) toll road and invest in oil palm plantations in Papua.
"The number of shares to be sold is around 30 percent," the president director of Bosowa Corporation, Erwin Aksa, said at the office of the state minister for state-owned companies here on Tuesday.
Erwin said the process was still being carried out including determining the underwriter, lawyers, legal consultants, appraisal and media relations.
"It is still on a stage of preparations but later it will be adjusted to market conditions," he said.
He said the proceeds from the IPO would be used to pay some of the company's debts to Bank Mandiri and Bank BNI.
"Bosowa's outstanding debts to the two banks total around Rp1.2 trillion. There is already an agreement to restructure the company's debt to BNI," he said.
Talks for a similar agreement with Bank Mandiri would be held soon.
He said besides for paying debts some of the proceeds would also be used as a working capital to increase the plant's capacity.
"The plant's capacity is now around two million tons a year and will be increased to four million tons," he said.
Aksa said Bosowa Corporation was also planning to enter the toll road business by acquiring a section of the Jakarta Outer Ring Road (JORR) toll road and invest in oil palm plantations in Papua.
