Wahana Artha to sell 590 million shares by IPO

Jakarta (ANTARA News) - Motorcycle distributor PT Wahanaartha Harsaka plans to sell 590 million shares or 29.5 percent of its fully paid-up capital through an initial public offering (IPO) in January 2008.

The shares will be offered from January 23 to 25 and listed at the Indonesian Stock Exchange (BEI) on January 31, the company said in a statement on Tuesday.

Wahanaartha posted a net profit of Rp11.50 billion in the first nine months of 2007, up from Rp7.84 billion throughout last year.