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Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO


Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offering (IPO) scheduled in October, despite the global equity market turmoil, triggered by the debt rating downgrade of the US by Standard & Poor's on last Friday, as reported by Insider Stories.

A source familiar with the matter said ABM Investama last week held a mini expose in front of directors of Indonesia Stock Exchange as preliminary step of the IPO.

ABM Investama, a sub-holding company of Tiara Marga Trakindo Group founded by Indonesian businessman A.H.K. Hamami, is scouting US$300 million proceed from the IPO. ABM has mandated two stellar underwriters PT Mandiri Sekuritas and PT Macquarie Securities Indonesia.

No spoke person at ABM Investama available for comment. However, IDX Director Eddy Sugito confirmed that ABM presented IPO plan to IDX last week, quoted by Insider Stories



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Recent News

Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...


Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...


Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...


Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...


Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...


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