ID :
98907
Fri, 01/08/2010 - 19:30
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Shortlink :
https://www.oananews.org//node/98907
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PP TO ISSUE 1.039 BILLION SHARES
Jakarta, Jan 8 (ANTARA) - State-owned construction company PT Pembangunan Perumahan (PP) plans to make an initial public offering (IPO) of 1.039 billion shares with a nominal value of Rp100 each.
The shares put to the IPO account for 21.46 percent of the company's fully paid-in and paid-up capital, according to the company's brief prospectus published on Friday.
All the shares are new.
The IPO will bring the number of PP shares listed at the Indonesia Stock Exchange (BEI) to 4.482 billion. The shares will be offered from January 29 to February 2 and listed at the BEI on February 8.
The company has appointed PT Mandiri Sekuritas, PT Danareksa Sekuritas and PT DBS Vickers Securities Indonesia as stock issue underwriters.
PP is expected to use 47 percent of proceeds from the IPO for the construction of a 2x150 megawatt-capacity thermal power plant in Cilegon, Banten province, in which it will be a minority shareholder.
Work on the construction of the power plant to be built on land owned by Krakatau Daya Listrik, a subsidiary of state steel maker PT Krakatau Steel, will be started in 2010 and completed in 2012.
The electrical power produced by the power plant will be used by Krakatau Daya Listrik, and the rest will be sold to state electricity company PT Perusahaan Listrik Negara (PLN).***
The shares put to the IPO account for 21.46 percent of the company's fully paid-in and paid-up capital, according to the company's brief prospectus published on Friday.
All the shares are new.
The IPO will bring the number of PP shares listed at the Indonesia Stock Exchange (BEI) to 4.482 billion. The shares will be offered from January 29 to February 2 and listed at the BEI on February 8.
The company has appointed PT Mandiri Sekuritas, PT Danareksa Sekuritas and PT DBS Vickers Securities Indonesia as stock issue underwriters.
PP is expected to use 47 percent of proceeds from the IPO for the construction of a 2x150 megawatt-capacity thermal power plant in Cilegon, Banten province, in which it will be a minority shareholder.
Work on the construction of the power plant to be built on land owned by Krakatau Daya Listrik, a subsidiary of state steel maker PT Krakatau Steel, will be started in 2010 and completed in 2012.
The electrical power produced by the power plant will be used by Krakatau Daya Listrik, and the rest will be sold to state electricity company PT Perusahaan Listrik Negara (PLN).***
