GO
Loading...

STOCKS NEWS INDONESIA-Indonesia's Provident Agro plans $31 mln October IPO

PT Provident Agro Tbk, an Indonesian palm oil company, is looking to raise up to 296.62 billion rupiah ($31 million) through an initial public offering (IPO) in October, the company said in a newspaper announcement on Monday.

The company aims to sell 659.15 million new shares, equal to 13.4 percent of its enlarged capital, at 450 rupiah per share, the statement said.

Provident Agro manages 11 palm oil plantations and three palm oil factories in Sumatera and Kalimantan with PT Saratoga Sentral Business and PT Provident Capital Indonesia, with each of the partners holding a 43.3 percent stake.

PT Indo Premier Securities and PT DBS Vickers Securities Indonesia are the underwriters for the IPO.

1154 (0454 GMT) (Reporting by Andjarsari Paramaditha in Jakarta) ((andjarsari.p@thomsonreuters.com)(+62 21 3199 7170)(Reuters Messaging: andjarsari.p.thomsonreuters.com@thomsonreuters.net))

****************************************************************

10:41 STOCKS NEWS INDONESIA-Trading in Indonesia Air Transport suspended

The Indonesian stock exchange suspended trading in the shares of PT Indonesia Air Transport after the stock's price nearly tripled in the last two weeks.

"The stock exchange needs to suspend trading of PT Indonesia Air Transport shares on Oct. 1 to cool down the price," the exchange said in a statement on Monday.

Shares of the air transport service provider soared to their highest in five years on Sept. 24 at 137 rupiah, from a year-low of 50 rupiah on Sept. 13. They closed at 122 rupiah on Friday.

The broader Jakarta Composite Index was down 1.05 percent at 10.15 a.m. (0315 GMT)

1017 (0317 GMT)

(Reporting by Andjarsari Paramaditha)

((andjarsari.p@thomsonreuters.com)(+62-21-3199 7170 x 909)(Reuters Messaging: andjarsari.p.thomsonreuters.com@thomsonreuters.net))

Keywords: MARKETS INDONESIA STOCKSNEWS/PROVIDENTAGRO