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Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 million new shares or representing 25% of its enlarged capital during initial public offering (IPO) scheduled on October 31 2011.
According to Insider, PT Indo Premier Securities and PT UBS Securities Indonesia have been mandated by Atlas Resources to be the IPO lead underwriters.
In an official prospectus published today, UBS has been appointed by Atlas Resources as the stabilization agent of the IPO.
If the IPO experiences oversubscribe, Andre Abdi provides over allotment option to UBS as of 117.50 million shares.
In parallel with the IPO, Andre Abdi also intends to sell 155.29 million shares in Atlas Resources via private placement.
Atlas Resources will use 40% of the IPO proceed to support capital expenditure, regarding to the development of infrastructures and supporting facilities. About 27.5% of the proceed will be used to acquire additional coal concession and put more capital into subsidiaries. Atlas will also use US$25 million to settle compensation fee to Noble.
In 2010 and 2009, Atlas Resources produced 1.25 million tons and 1.06 million tons coal. In the first four months of this year, the company produced 333,474 tons. Most production was contributed by its subsidiary dubbed PT Berau Bara Energi.
Atlas Resources owns 18 subsidiaries namely Berau Bara Energi, PT Diva Kencana Borneo, PT Hanson Energy, PT Aquela Pratama Indonesia, PT Optima Coal, PT Optima Persada Energi, PT Citra Global Artha, PT Papua Inti Energi, PT Kalibara Energi Pratama, PT Gorby Energi, PT Gorby Global Energi. PT Gorby Putra Utama, PT Anugrah Energi, PT Banyan Koalindo Lestari, PT Cipta Wanadana, PT Karya Manunggal, PT Musi Mitra Jaya, and PT Sriwijaya Bara Logistic.
Source: Insider Stories
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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Electricity Generating Authority of Thailand
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- Interocean Group of Companies - India
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- Indogreen Group - Indonesia
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- Minerals Council of Australia
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- Africa Commodities Group - South Africa
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- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Wilmar Investment Holdings
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- Merrill Lynch Commodities Europe
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- Goldman Sachs - Singapore
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- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
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- Commonwealth Bank - Australia
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- MS Steel International - UAE
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- McConnell Dowell - Australia
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- Bhoruka Overseas - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Globalindo Alam Lestari - Indonesia
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- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
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- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
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- Billiton Holdings Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
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- Eastern Coal Council - USA
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
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- Chamber of Mines of South Africa
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- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
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- London Commodity Brokers - England
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