Friday, January 29, 2010

Benakat set IPO price at level IDR140

PT Benakat Petroleum Energy Tbk set IPO price at level IDR140 and waran price at level IDR145. The company and underwriter PT Danatama Makmur set price after book building oversubcibe 5.13 folds.
Formerly, the IPO price of Benakat Energy is set at a par value of IDR120-140 targeting to tap IDR1.38-1.61 trillion proceeds. Now, Benakat raise IDR 2.6 trilion from IPO include from issue waran.
The company issue warrants targeting to rake IDR942.5 billion proceeds. The stock issuance ratio is 23 shares to get 13 warrants.
Benakat Energy is an energy and mineral resource company including oil and gas, coal, manganese mining and engineering, procurement & construction (EPC).
In coal sector, the company runs the business through the subsidiary firm, PT Delta Samudera. So far, the subsidiary firm of Benakat has made exploration of 9,384 hectares in West Kutai, East Kalimantan. In the concession, the company has 44.77 million tons reserves.
In the manganese mining sector, the company performs business through its subsidiary firm, PT Nusa Energy Raya, located in Flores, East Nusa Tenggara.
For EPC business, the company has subsidiary firm, PT Suluh Ardhi Engineering. This year, the company targets to get IDR853.72 billion contracts and by 2011 IDR2.49 trillion.

No comments: