What Excess Shares Borneo Lumbung Energi

Again, a coal producing company plans listed its shares on the Indonesia Stock Exchange. PT Borneo Lumbung Energi & Metal Tbk plans to remove 20 percent or equivalent to 3.3317 billion shares to the public.
Borneo targeting proceeds from an IPO (Initial Public Offering / IPO) Rp 3 0.2 to 4 trillion.
Of the funds of the plan about 50 percent will be used to pay company debts equivalent to Rp1, 9 trillion, 35 percent for capital expenditure (capex), and the rest reserved as working capital Borneo Lumbung Energi.The Company is a manufacturer and exporter of hard coking coal coal. Coking Coal-called metallurgical coal is a type of coal that can be used to produce coke as a reductant in the iron and steel production.
Coking coal is used to produce Metallurgical coke which is the raw material for the production of pig iron in blast furnaces.
Corporate Secretary Borneo Lumbung Energi Geroad PA Joseph said, the type of coal is commonly used to make steel. The Company currently has signed contracts with Chinese companies and Taiwan.
"Our new contract is for one million tonnes," said Marketing Director Kenneth Raymond Alan BORN in Jakarta.
Geroad admit, at this time, the company is the only company producing these types of coal. "In fact, Krakatau Steel will produce a new course after obtaining a whisper from Posco (Pohang Steel and Iron Company)," he said.
Kenneth added that the company will supply the coal needs to the joint venture company PT Krakatau Steel and Posco began 2013.
BORN start production early September 2008 and commercialization activities in September 2009. December 2009, the Company achieved a production capacity of 2.4 million tons per year.
Until September 2010, a new company record 1.4 million tonnes. Coal reserves of the company currently reaches 69.2 million tonnes and resources of 378.8 million tonnes.
The sales booked until the first half of this year amounted to U.S. $ 191.5 million per tonne. Borneo own assets until June 2010 was recorded Rp 5 trillion, while revenue and EBITDA Rp0 Rp1 trillion, 4 trililun. Next year (2011), the company plans to increase production of 3.6 million tons.
Well, anyone interested Borneo stock?PT Ekokapital Securities analyst Cece Ridwan said, foreign investors will absorb the shares Borneo Lumbung. "Now more coal uptrend (increasing). Foreign investors interested starch to IPO shares," he said. Optimistic Cece, shares the company will be merged.
Meanwhile, PT Asjaya Indosurya Securities analyst Reza Proyambada admit, it has not been able to provide forecasts about future company performance. "The company is new, no historical for two years back," he said.
He added that the company is still low incomes into consideration. Revenue from the company as of June 30, 2010 amounted to Rp1 trillion.
Reza said that investors will only take a moment of IPO shares Borneo Lumbung Energi. "The price of shares kayak Berau, only briefly and then go down," he said.
He compares this stock with PT Bayan Resources Tbk. "If the top five stocks stuck, especially with this

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