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Article: Indonesia: Prime to go ahead with IPO.
- Article from:
- TendersInfo
- Article date:
- September 16, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: deepak03
Integrated oil and gas service provider PT Prime Petroservices (PPS) will stick to its plan to publicly offer 30 percent of its stake next month despite uncertainty in the stock market.
After a two-month delay, PPS is optimistic the initial public offering (IPO) will take place in early October, once the company secures a permit from the stock market regulator.
Under the IPO plan, the company will sell 1.78 billion new shares at Rp 205 (2 U.S. cents) a share.
"We believe the economys fundamentals are still doing great. Thats why were upbeat about proceeding with the plan," PPS finance director Didit A. Ratam told The ...