PT Toba Sejahtra expects to raise between $200 million-U$400 million from an initial public offering next year. The coal mining company has named UBS Securities, Morgan Stanley and PT Danareksa Sekuritas to arrange the share sale. Formerly, Credit Suisse, BNP Paribas, Merril Lynch, and Citi follow the tender process.
Toba Sejahtra, a coal mining company own by (retired) Lieutenant General Luhut Binsar Pandjaitan. The company hold 17.000 hectare consesion plan in Kalimantan.
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