Kiki Barki sells 10% stake in Harum, scouting IDR2.5 trillion

JAKARTA: Indonesias billionaire Kiki Barki plans to discharge 10% or 270 million shares of his ownership in coal miner PT Harum Energy Tbk at IDR9,050-IDR9,550 worth IDR2.51 trillion.The share was 5.23% lower than IDR9,550 on last Friday. Karunia Bara
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 30 Mei 2011  |  01:11 WIB

JAKARTA: Indonesias billionaire Kiki Barki plans to discharge 10% or 270 million shares of his ownership in coal miner PT Harum Energy Tbk at IDR9,050-IDR9,550 worth IDR2.51 trillion.The share was 5.23% lower than IDR9,550 on last Friday. Karunia Bara manages 79.72% in Harum.Based on Bloomberg data, PT Macquarie Capital Securities Indonesia will work as the selling agent. Share price formation began last Friday while the sale is predicted to be on June 2.Harum has not provided an official statement. When contacted, Harums Corporate Secretary did not answer Bisnis calls.Harum conducted initial public offering in November 2010 to sell 500 million or 18.5% shares consist of 200 million new shares and 300 million Karunia Baras shares.With a fix price of IDR5,200 per share, Harum successfully pocketed IDR1.04 trillion while Bara obtained IDR1.56 trillion. Baras number of shares disposed was smaller than initial 450 million shares worth IDR2.34 trillion.Barki and his Tanito Group is a coal industry veteran in Indonesia. Harum owns 3 mines in Kalimantan namely PT Mahakan Sumber Jaya, PT Santan Batubara and PT Tambang Batubara Harum.Star Petrochems IPOIn the meantime, Bapepam-LK stated that it has processed at least 11 prospective issuers that will enter the market in this midyear.The last processed company, PT Star Petrochem Tbk plans to release 2 billion shares and 98 million maximum warrants.In the same day, Salim Groups PT Salim Ivomas Pratama Tbk, oil palm producer, sets it IPO price at IDR1,100 a share; higher than initial price at IDR1,060-IDR1,700 a share. Salim Ivomas is scheduled to go public on June 9, 2011, following the debut of PT Jaya Agra Wattie Tbk scheduled for today.In contrast, PT Restyle Concept, Recapital Group subsidiary on design and property, postponed its IPO which originally scheduled in IIQ/2011 with PT Recapital Securities as the underwriter.We reschedule Restyle IPO. We are still busy with project preparation, said Eecapitals founder Sandiaga S. Uno.In other development, cable manufacturer PT Kabelindo Murni Tbk plans to conduct rights issue this year to obtain extra capital and to increase its outstanding shares.We plan for acquisition and rights issue but they are still in the early stage, said Kabelindos President Director Surya Adiwijaya Soepono. (T05/wiw)

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