Alumindo to go public<\/p>\n
JAKARTA (JP): PT Alumindo Light Metal Industry (Almi), a
\nsubsidiary of the Surabaya-based Maspion group, plans to sell 30
\npercent of its common stocks next month to increase its aluminum
\nsheet production.<\/p>\n
\"We will sell 92.4 million shares in an initial public
\noffering to raise about Rp 110 billion (US$47 million) to finance
\nour capacity expansion and the Maspion stainless steel project,\"
\nAlmi director Welly Muliawan told a meeting of securities
\nanalysts in Surabaya yesterday.<\/p>\n
Muliawan was quoted by Antara as saying the shares would sell
\nfor Rp 1,300 each, and that PT WiCarr Indonesia would be the lead
\nunderwriter.<\/p>\n
Almi aims to increase its annual capacity of aluminum sheet
\nproduction from 42,000 tons to 54,000 tons in 1997 and to 84,000
\ntons in 1998, he said.<\/p>\n
The company has an annual capacity of 7,200 tons of aluminum
\nfoil.<\/p>\n
Almi intends to list its shares on the Jakarta and Surabaya
\nstock exchanges on Dec. 27. (vin)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/alumindo-to-go-public-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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