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Demand for Berau nearly reaches IDR1.2 trillion
Tuesday, 17/08/2010 17:13:09 WIB
by: Wisnu Wijaya
JAKARTA: Demand for 2% of PT Berau Coal Enegy Tbk (BRAU) shares from retail investor via pooling is experiencing excess demand to 40.9 times or almost IDR1.2 trillion.

“During the offering period in Jakarta, Surabaya and Medan on 10-12 August, total demand were beyond expectation up to 40.9 times,” said director of exclusive Investment Banking PT Danatama Makmur, Vicky Gandasaputra, lead underwriter for Berau Energy IPO, today.

Berau Energy has set 68 million shares or 2% through pooling allotment.

From the 3.40 billion shares, 70% was allocated for local and foreign investor institutions while the rest was allocated for individual investors.

“Foreign investors dominated the allocation. They obtained 50% from total allocation,” he stated.

Berau Energy plans to offload 3.4 billion shares into the primary market or 9.74% of the company total shares as much as 34.9 billion.

Listing schedule is targeted on 19 August 2010. From the IPO for about IDR400 per share, 1.36 trillion of cash will be used for capital expenditure and Maple Holdings Ltd acquisition through Seacoast Offshore Inc, Berau subsidiary.

Maple, subsidiary of Regulus International Pte Ltd, will hold the marketing rights of PT Berau Coal, Berau Energy subsidiary business.

Regulus owned by Bukit Mutiara, parent of Berau Energy, managed by PT Recapital Advisors. (t05/wiw)

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