28 Agustus 2010
Govt Sets Date for Krakatau Steel IPO Roadshow

JAKARTA: The State-Owned Enterprises Ministry said Friday it would hold a roadshow in September for the countryís largest steel-maker Krakatau Steelís initial public offering (IPO).

The roadshow will target international corporate investors in Asia, Europe and the US.

"We are still finalizing the roadshow plan but we hope it can get started around September," deputy minister for privatization and restructuring Mahmuddin Yasin told The Jakarta Post on Friday.

The Indonesia Stock Exchange on Thursday said Krakatau Steel had filed a document saying it would float 20 percent of its shares through an IPO. Mandiri Sekuritas and Trimegah Securities have been appointed underwriters for the initial listing.

State-Owned Enterprises Minister Mustafa Abubakar previously said Krakatau Steel aimed to raise between Rp 4 trillion and Rp 5 trillion from the IPO, which is scheduled to be launched on Nov. 11.

Mustafa said Krakatau Steel might offer another 10 percent in shares in a second listing, as the ministry aimed to float up to 30 percent of shares in Krakatau Steel.


(Source: The Jakarta Post)

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