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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

Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...


Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
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Wednesday, 02 November 11
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There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...


Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...


Tuesday, 01 November 11
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