BW Plantation to roll out IPO to raise $100m in proceeds

[Indonesia promotor]

Ika Krismantari , The Jakarta Post , Jakarta | Sat, 08/08/2009
1:43 PM | Business

Local palm oil producer BW Plantation plans to offer 30 percent of its
shares through an initial public offering (IPO) in September, as it
seeks to raise capital of US$100 million. BW Plantation corporate
secretary Kelik Irwantono said Friday the company would kick off a
road show in selected Asian and European cities to inform prospective
investors about the IPO. "We'll go to Singapore, Hong Kong and London
next month," he said. Kelik added the company had appointed Danareksa
Sekuritas and BNP Paribas as the underwriters for the IPO. The company
expects to have its shares listed in the Jakarta Stock Exchange some
time in October. As for the proceeds from the IPO, Kelik said the
company would use 90 percent for expansion and the rest as working
capital. More information: http://www.itpponline.biz/JKP0808091.htm