PT Indika Energy Tbk, Indonesian coal producer, plans to sell back an 18.5 percent stake in PT Petrosea, Inonesian mining services company, to the public after acquiring most of the shares through a tender offer last year.
Indika appointed PT Macquarie Capital Securities Indonesia and PT Citigroup Securities Indonesia to help arrange the sale.
Today, Petrosea shares advanced to the highest level in at least 19 years in Jakarta trading, advanced 20 percent to IDR 27,600 rupiah as of 9:35 a.m. local time, set for its highest close since at least August 1991.
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