Bayan Resources' IPO Looking Good

July 2008 | IPO News Alert

Indonesia's energy sector continues to attract high levels of investor interest, and this time it's the turn of Bayan Resources, a high-growth Indonesian coal producer that plans on July 22 to kick off a US$697mn IPO, in an attempt to capitalize on huge domestic and regional demand. This is despite the prevailing negative sentiment, outside the energy and mining industries, following a number of cancelled Asian IPOs. The company is offering 833.3mn shares, roughly 25% of its enlarged share capital, with 90% intended for international investors. The remaining 10% is to be split between domestic institutions and retail investors.

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