PT Berau Energy Coal, the holding of PT Berau Coal, targets to tap US$100 -US$200 million proceeds from the IPO of 7.17 billion shares in August.
The amount of offered shares equal to 18.2 percent of the total shares offered by the company.
The amount of offered shares equal to 18.2 percent of the total shares offered by the company.
Berau Energy, the fifth largest coal holding producer, has submitted early stock listing document to IDX last Friday.
The IPO scheme of 18.2 percent shares of Berau Energy has listing target in August 2010.
The IPO scheme of 18.2 percent shares of Berau Energy has listing target in August 2010.
There are four underwriters for the IPO of Berau Energy, namely Danatama Makmur, Credit Suisse Securities, JPMorgan Securities, and Recapital Securities.
The expected proceed target form the IPO is about US$100-200 million. Assuming the IPO target of 18.2 percent new shares with US$100-200 million, it means 100 percent of Berau Coal Energy is worth at US$549.45 million-US$1.09 billion.
In 2008, net loan of Berau Coal was estimated at IDR2.25 trillion, and thus the corporate value of Berau Coal could stand at IDR7.2-Rp12.1 trillion.
PT Bukit Mutiara, the subsidiary firm fully owned by Recapital Advisors, acquired 100% percent shares of PT Risco, the holding firm of PT Armadian Tritunggal that owns 90 percent of Berau Coal, worth US$1.5 billion or worth IDR13.56 trillion.
Berau Energy is the company with 100 percent shares possession of the Recapital. Berau Energy alone has subsidiary firm so-called PT Risco. Bisnis data shows Risco is the holding company of Armadian Tritunggal established on 7 September 2005.
Formerly, Risco was owned by the son of tycoon Ibrahim Risjad, Selviya Risjad, with 10 percent possession and Rizal Risjad 90 percent. In May 2006, Handy Purnomo Soetedjo acquired 10 percent shares of Risco from Selviya Risjad and 10 percent of Rizal's.
Then, Garibaldi Thohir acquired 15 percent shares of Risco from Rizal Risjad, and thus the final position of shareholders of Risco is Rizal with 65 percent ownership, Handy Purnomo 20 percent, and Garibaldi Thohir, who is the President Director of PT Adaro Energy Tbk as the second largest coal producer, with 15 v possession.
In July 2006, Risco acquired 83.3 percent shares of Armadian from David Jahja, Henry Ngadimin, and PT Mentari Bukit Makmur. Risco then acquired 16.7 percent shares of Armadia from Rizal Risjad in April 2007.
Unit of Berau Energy, Berau Coal, was established in 1983 as the association of Ophelis Investment Ltd, the subsidiary firm of Mobil Oil Corporation with 60 percent ownership and Nissho Iwai Corporation, or Sojitz with 40 percent.
In 2008, net loan of Berau Coal was estimated at IDR2.25 trillion, and thus the corporate value of Berau Coal could stand at IDR7.2-Rp12.1 trillion.
PT Bukit Mutiara, the subsidiary firm fully owned by Recapital Advisors, acquired 100% percent shares of PT Risco, the holding firm of PT Armadian Tritunggal that owns 90 percent of Berau Coal, worth US$1.5 billion or worth IDR13.56 trillion.
Berau Energy is the company with 100 percent shares possession of the Recapital. Berau Energy alone has subsidiary firm so-called PT Risco. Bisnis data shows Risco is the holding company of Armadian Tritunggal established on 7 September 2005.
Formerly, Risco was owned by the son of tycoon Ibrahim Risjad, Selviya Risjad, with 10 percent possession and Rizal Risjad 90 percent. In May 2006, Handy Purnomo Soetedjo acquired 10 percent shares of Risco from Selviya Risjad and 10 percent of Rizal's.
Then, Garibaldi Thohir acquired 15 percent shares of Risco from Rizal Risjad, and thus the final position of shareholders of Risco is Rizal with 65 percent ownership, Handy Purnomo 20 percent, and Garibaldi Thohir, who is the President Director of PT Adaro Energy Tbk as the second largest coal producer, with 15 v possession.
In July 2006, Risco acquired 83.3 percent shares of Armadian from David Jahja, Henry Ngadimin, and PT Mentari Bukit Makmur. Risco then acquired 16.7 percent shares of Armadia from Rizal Risjad in April 2007.
Unit of Berau Energy, Berau Coal, was established in 1983 as the association of Ophelis Investment Ltd, the subsidiary firm of Mobil Oil Corporation with 60 percent ownership and Nissho Iwai Corporation, or Sojitz with 40 percent.
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