JAKARTA (Yosefardi) – Japan-based Idemitsu Kosan Co Ltd will potentially hold 27.68% stake in coal producer PT Mitrabara Adiperdana.
On April 3, 2014, PT Wahana Sentosa Cemerlang and Athanasius Tosin Suharya, shareholders of Mitrabara, had signed option to acquire shares agreement with Idemitsu.
Mitrabara plans an initial public offering (IPO) of up to 22% shares (273.03 million) with PT Danareksa Sekuritas as underwriter, priced at between Rp1150 to Rp1350 per share, to raise total proceeds of Rp313.98 billion to Rp368.59 billion.
Idemitsu is one of biggest customers of Mitrabara. Other clients are Trafigura, Dragon Energy, Marubeni, and The Power Sector Assets and Liabilities Management Corp (PSALM).