Coal mining company PT Cipaganti Inti Resources decided to delay its proposed initial public offering (IPO) from an initial plan in the first half to the second half of this year as the market situation is less favorable.
Cipaganti, with 1,300 hectares of coal concession in East Kalimantan, plans to float 40% stake in the primary market with a target proceed of Rp500 billion-Rp1 trillion.
"The IPO proceed will be used by the company to develop the heavy equipment business and mining," said Cipaganti Group President Director Andianto Setiabudi as reported by Kontan daily today.
Cipaganti Resources, which has started a commercial production, has 3 million tons of coal reserves with calorie of 5,500 kcal-5,800 kcal.
Minggu, 24 April 2011
Astra Otoparts Reports Lower Profit in First Quarter - The Indonesia Today
Auto parts producer PT Astra Otoparts Tbk (AUTO), a subsidiary of diversified PT Astra International Tbk, posted net profit of Rp259 billion in the first quarter of 2011, declined 6.81% from Rp278 billion in the corresponding period of 2010.
It said revenue increased 20% to Rp1.82 trillion from Rp1.51 trillion in first quarter of 2010 while assets grew by 23% to Rp6.2 trillion from Rp5 trillion.
AUTO shares was traded at Rp16,850 per share on Thursday (April 21). At this price, it has market capitalization of Rp12.99 trillion.
It said revenue increased 20% to Rp1.82 trillion from Rp1.51 trillion in first quarter of 2010 while assets grew by 23% to Rp6.2 trillion from Rp5 trillion.
AUTO shares was traded at Rp16,850 per share on Thursday (April 21). At this price, it has market capitalization of Rp12.99 trillion.
Langganan:
Postingan (Atom)