Saratoga?s gold subsidiary to launch IPO
Wednesday, February 11 2015 - 02:11 AM WIB
Saratoga Group plans to launch an initial public offering (IPO) for its gold and copper subsidiary PT Merdeka Copper Gold, Kontan reported on Wednesday.
The paper quoted Saratoga co-owner Sandiaga Uno as saying that the company was taking advantage of a new ruling of the Indonesia Stock Exchange allowing mining firms which have yet to start production to offer shares via IPO.
He declined to provide details of the planned IPO. ?It?s still at the early stage. The IPO is expected to take place in the first semester of 2015,? he said. Indo Premier Securities has been appointed as the lead underwriter of the IPO.
PT Merdeka operates a gold and copper concession in Banyuwangi, East Java. (*)