IPO of Coal Miner Mitrabara Adiperdana on the Indonesia Stock Exchange
Mitrabara Adiperdana, an Indonesia-based coal miner, is planning to conduct an initial public offering (IPO) on the Indonesia Stock Exchange in July 2014. The company will offer 273.03 million shares, or 22 percent of its enlarged share base, to the public at a price range of IDR 1,150 to IDR 1,350 per share. Through this corporate action, the miner targets to raise IDR 368.6 billion (USD $31 million). Reportedly, after the IPO, Japan’s Idemitsu Kosan Co Ltd has an option to purchase a 27.68 percent stake in the Indonesian coal miner.