| 08/12/2008 - Shares of Bayan Resources are listing at BEI |
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Jakarta, August 12, 2008, PT Bayan Resources Tbk. (”Company”) is listing its shares at Indonesian Stock Exchange (IDX) with code BYAN as 17th company listied in 2008. The total number of shares which have been sold to the public through the initial public offering are 833.333.500 shares, consisting of 500.000.000 regular shares owned by two existing shareholders and 333.333.500 new issued shares.
The Company is a corporation which through its subsidiaries (hereiafter the Company and its subsidiaries shall be referred to as “Bayan Group”) runs its business in open cut mining of thermal coal which sells a variety of specification of coal. The Company owns exclusive mining rights through their 8 subsidiary companies, consisting of 5 CCOW and 3 KP with total area of 81.265 hectare
“the initial price were offered at Rp 5.800,- per shares” according to the President Director and Chief Executive Officer of PT Bayan Resources Tbk, Eddie Chin Wai Fong (“Eddie Chin”) during a press conference on the initial share listing at BEI, Jakarta. Approximately Rp. 313.4 billion of the fund received from the IPO will be used for the acquisition of the Kalimantan Floating Transfer Station; Rp. 360.2 billion to fund the expansion of the Wahana Project; Approximately Rp. 322.8 Billion to fund the expansion of the Perkasa Project; Rp. 148,3 Billion to fund the expansion of the FTB Project; and the remaining amounts approximately Rp. 711,9 Billion for working capital and other general corporate purposes. After the IPO, the public will own 25% of the enlarge share capital. Acting as the Lead Underwriter is PT Trimegah Securities Tbk. Abraham Arief Head of Investment Banking PT Trimegah Securities Tbk stated that the final result of the BAYAN shares offering within Public Offering period reach [xxx] for demand with the number of subscriber more than [xxx] thousand investor both retail and institution. With regards to the Company’s performance, for the period ending on 31 December 2007, the Company recorded nett revenue in the amount of Rp. 3.451 trillion, an increase of 15.2% from Rp. 2.996 trillion during the same period in the previous year. Profits for this period reached Rp 410.5 billion, an increase of 84.9% from Rp. 222 billion during the same period in the previous year. For futher information, please contact: Jenny Quantero Director & Corporate Secretary of PT Bayan Resources Tbk Graha Irama Building 12th Floor Jl. H. R. Rasuna Said Blok X-1, Kav. 1&2, Jakarta 12950 Phone : (021) 526 9868 Fax : (021) 5269866 |