“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, May 10, 2008

Indika Energy plans to raise Rp 2.1 trillion from IPO

The Jakarta Post, Jakarta | Fri, 05/09/2008 9:38 AM 

Energy and infrastructure company Indika Energy plans to unload 18 percent of its stake to the public via an initial public offering (IPO) scheme later this month to help finance its business expansion.

The company, of which its subsidiaries include coal producer PT Kideco and engineering company PT Tripatra, is expecting to raise more than Rp 2.1 trillion (US$228 million) from the IPO.

Indika finance director Azis Armand said 56.6 percent of the proceeds would be used to fund an expansion in energy resource business, including potential acquisitions and the development of coal resources.

The remaining 28.2 percent, he added, would be used to expand the infrastructure business, and 15.2 percent would be used for the energy service business.

"We're hoping to use the proceeds to acquire a coal mine in East Kalimantan worth around US$100 million," he said.

Indika will also use some of the proceeds to invest in a joint power plant project in Cirebon, West Java, at a cost of around $779 million.

However, the company will only spend around $47 million in the project, while the remaining costs will be financed jointly by other investors.

Indika president director M. Arsjad Rasjid said Thursday the company would sell some 937 million shares with a par value of Rp 100 each.

The company, he said, would start offering its shares from June 10 to 12, at a price of between Rp 2,300 and Rp 2,950.

Indika plans to list the shares on the Indonesia Stock Exchange on June 18.

Controlled by a group run by local businessmen Agus Lasmono and Wiwoho Basuki, who are linked with tycoon Sudwikatmono, Indika has appointed PT Danareksa Sekuritas, PT Indo Premier Securities and PT Mandiri Sekuritas as underwriters for selling.

Citigroup Global Markets Limited and Deutsche Bank AG have been appointed as the company's agents outside Indonesia.

Last year, Indika had assets worth more than Rp 5 trillion, with revenues of Rp 2.3 trillion and a net profit of Rp 265 billion.

The company's flagship Kideco, the country's third largest coal producer, booked $95 million of net income last year.

The unit sold 20.5 million tons of coal last year, while this year the company is expecting to sell 22 million tons at a price of between $45 and $48 per ton.

Indika has some 46 percent shares in Kideco, while the remaining 49 percent are owned by South Korea-based Samtan, and 5 percent by PT MIU. (dia)

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