Intikeramik to sell shares

Intikeramik to sell shares

JAKARTA (JP): Intikeramik Alamasri Industri, one of
Indonesia's major porcelain tile makers, will issue 100 million
shares or 29.5 percent of its equity in an initial public
offering.

The company said yesterday it expected to raise about Rp 85
billion (US$36.2 million) in the issue.

PT Danareksa Sekuritas and PT Pentasena Arthasentosa will
underwrite the issue.

Intikeramik's president Lie Ju Tjhong said float's proceeds
would be used to strengthen its financial structure and boost
production.

"We have recently completed a big new factory which raises our
annual capacity from 2.7 million square meters to 6.6 million
square meters, making us among the top 10 producers worldwide,"
he said. (bnt)