· Krakatau Steel has delayed to announce the price for its IPO to tomorrow after the public expose. Media has reported of rumor that it will be between Rp1,000-Rp,1200 per share.
· The company will sell 3.15bn shares or 20.0% out of total shares. The company will sell another 10.0% next year as it has obtained approval from the House of Representatives to sell 30.0% of its shares to the public.
· 35.8% from total proceeds will be used to expand capacity of its steel production facility in order to support a production target of 3.5mn tons by 2013. Another 25.0% will be used to prepare land for a joint steel facility owned by KS and POSCO. 24.2% will be used for raw materials purchase and the remaining 15.0% will be used to increase ownership in its subsidiaries which operates in port management and electricity production.
· Underwriters are Bahana, Danareksa and Mandiri Sekuritas. Effective date will be on October 29, 2010. The shares will be offered November 2-4, 2010 and listed in November 10, 2010.
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BalasHapus