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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, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...


Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...


Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...


Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week. The biggest drop was in the Cape Index down by 8.19 pct&nbs ...


Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said. The ...


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