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Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
 The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to help finance its expansion plans.
The company plans to sell 783 million shares, or about 25 percent of its equity, according to Atlas’s underwriter, Indo Premier Securities. The shares will be offered at Rp 1,500 to Rp 1,900 per share to generate Rp 1.17 trillion to Rp 1.49 trillion.
Indo Premier managing director Moleonoto said Atlas would allow an over-allotment of up to 117.5 million shares if there is an oversubscription.
Atlas corporate secretary Aulia Setiadi an said on Friday that most of the proceeds will be used to build supporting infrastructure in its Sumatra coal mining hubs in Muba and Oku. Atlas also operates mining centers at Berau and Kubar in Kalimantan and in Papua.
The company is focusing on its Muba hub because it is the largest facility, with capacity set to reach 5.1 million tons a year by 2013. Atlas will invest $106 million on infrastructure there, Aulia said.
The company is currently waiting for an exploration permit for Papua, but output at the three other hubs is expected to reach 9.3 million tons in 2013.
Atlas’s current total capacity is about 2.5 million tons. In the first four months of this year the company’s total production was 400,000 tons. It produced 1.3 million tons in 2010.
Aulia said that as well as receiving funds from the IPO, the expansion will draw on the company’s internal cash flow and bank loans.
Abdi Andre, Atlas’s president director, said in a statement that about $25 million of the IPO funds will go to compensation for the restructuring of the company’s supply contract with Hong Kong-based Noble Group Limited, with the aim of starting a new marketing and sales contract.
Another 27.5 percent of the proceeds will be set aside for acquisitions in new fields should an “opportunity arise,” Abdi said. Atlas has no current plans to acquire another company, he said.
Indo Premier’s Moleonoto, said that despite the volatile market, he was confident the share sales would be successful.
“We are optimistic because Atlas has an interesting investment scheme and growth prospects,” Moleonoto said.
Book building and an international roadshow will be held from Oct. 10-18. Atlas expects to carry out the IPO from Oct. 31 to Nov. 2 and list on the Indonesia Stock Exchange on Nov. 8.
In the first half of 2011, Atlas booked Rp 402 billion in revenue, up 47 percent on the same period last year. Profit zoomed to Rp 46 billion in the year’s first half, up from Rp 2.5 billion in the same period last year.
The listing underlies the boom in the nation’s coal mines, which have been in high demand recently.
Source: The Jakarta Globe (By-Francezka Nangoy)
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Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- Bukit Makmur.PT - Indonesia
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- ASAPP Information Group - India
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- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
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- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
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- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
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- Parliament of New Zealand
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- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Minerals Council of Australia
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- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
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- VISA Power Limited - India
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- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- GN Power Mariveles Coal Plant, Philippines
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- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
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- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
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- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
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- Coal and Oil Company - UAE
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- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- The University of Queensland
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- Chettinad Cement Corporation Ltd - India
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- White Energy Company Limited
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
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- Australian Commodity Traders Exchange
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- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
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- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
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- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
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- London Commodity Brokers - England
- Electricity Authority, New Zealand
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- Maheswari Brothers Coal Limited - India
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- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
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- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
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- The State Trading Corporation of India Ltd
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- GAC Shipping (India) Pvt Ltd
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- Bangladesh Power Developement Board
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- Sojitz Corporation - Japan
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