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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES


Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per share, entitling the company with Rp1.22 trillion (approximately US$ 137,853,107) proceed.

Accordign to Insider Stories, during the book building, Atlas Resources also obtained strong demand, making the offer experiences oversubscribe of 2.5 folds.

The company is planning to upsize the IPO by 3.5% to 811.33 million shares from the initial plan of 783.33 million shares.

Atlas Finance Director Dono Boestami, as quoted by Bisnis Indonesia today, said the company will exercise a green shoe option of 28 million shares. The company is allocating 117.5 million shares for the option or 15% of the IPO size. PT UBS Securities Indonesia and PT Indo Premier Securities are the IPO underwriters.

The company plans to spend US$105 million up to 2013 as capital expenditure. About 60% of the capex will be spent next year.
Source: Insider Stories



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Recent News

Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...


Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...


Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...


Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...


Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy The Atlantic market kept its strong position from last week.  Even with fewer fixtures reported.  Fronthauls still around 25k, wit ...


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