BALIKPAPAN: PT Cipaganti Citra Graha, PT Cipaganti Global Corporindos subsidiary, plans to realize their initial public offering program in the second half of 2011. The transportation and heavy equipment provider is planning to discharge 30%-40% to pocket IDR1 trillion from the IPO.PT Cipaganti Global Corporindo President Director Andianto Setiabudi stated the IPO is intended to strengthen Cipaganti Citra Graha capital.The company is currently reviewing the potential underwriters, namely PT Trimegah Sekuritas, PT Ciptadana Securities, PT Mandiri Sekuritas and PT Danareksa.We are currently conducting a beauty contest to pick the right underwriter. Consortium is a possible option since it is too risky to appoint just one securities, said Cipaganti Group Financial Advisor Iwan Purnawan.PT Finansial Bisnis Informasi analyst Reza Priyambada viewed the corporate action is prospective amid better market condition.In line with Cipaganti, PT MNC Sky Vision is also planning to conduct an IPO in the fourth quarter of 2011. The company will release 25% shares where 10% of it is currently managed by Bhakti Investama.Bhakti Investmana discharges their ownership to fund their own capital expenditure and to focus on mineral resource business, said one that familiar with the matter.To facilitate the corporate action, the company has appointed JP Morgan, MNC Securities, UBS, Morgan Stanley and Danareksa as the underwriters. (T05/NOM)
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