Monday, July 9, 2007

Saptaindra IPO to get US$350 milion

Following PT Adaro Indonesia, another coal mining contractor, PT Saptaindra Sejati, has planned to go public in a bid to get US$300 million - US$350 million.

Saptaindra Sejati, is a unit of Dianlia Group with the main business of coal mining contractor.
An executive getting involved in the transaction said that some brokers have been invited to handle the transaction of the stock.

Apart from Saptaindra, Adaro Indonesia also has planned to offer the stock on the second half of the year in order to get US$600 million. The owners of Adaro Indonesia are Dianlia Setyamukti (91.8%) and MEC Indo Coal from the US (8.2%).

The company has assigned Goldman Sachs and UBS AG to underwrite the IPO.
Some other investors also have been preparing themselves to go public. PT Dharma Henwa Indonesia, a mining contractor, also has planned to sell 30% of new shares to get the fresh capital of US$200 million.

The IPO will be on the second half of the year, and PT Danatama Makmur and PT JP Morgan Securities Indonesia will be the underwriter. One source said that Dharma Henwa may go public next August.

The offering of Dharma Henwa is one of 25 companies that were targeted by JSX to go public this year. Among other companies are PT Jasa Marga, PT Wijaya Karya, and PT Wijaya Karya.

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