Mandiri Sekuritas, wholly owned subsidiary of the state-controlled PT Bank Mandiri Tbk, will arrange US$500 million-US$600 million of equities IPO and five bond issuances worth IDR5 trillion. OSK Nusadana will manage two bonds, one of the bonds worth IDR500 billion. The IPO size of Star Petrochem and Tifa's notes are still being discussed and it cant be exposed yet, AAA Securities President Director Th. Andri Rukminto said in Jakarta, yesterday.Mandiri Sekuritas Director Iman Rachman said that one of the IPOs worth US$300 million and some of the prospective new public companies using the financial reports of March and June.Most of the bond proceeds will be use as working capital and expansion. The companies comes from financial and property sector, he said without specifically mentioned those companies names.OSK Nusadanas Director Mardi Sutanto said the company is considering two bond issuances that are expected to be issued in third quarter 2011. Those bonds come from two companies engaged in consumer sector, which will use the proceeds for business expansion. Petrochem & TifaAndri said that AAA Securities is currently handling Petrochems IPO and Tifas MTN, which is already submitted to Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).We are appointed to handle the IPO and bond issuance, yet, we cant mention the portion since its still being processed by the market watchdog, he added.Star Petrochem that engages in large general trading plans to release 2 billion shares and 98 million warrants at maximum.BPD NTT will use the bond proceeds to expand its small and medium business loans, Andri said. (t06/wiw)
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