;JP;YAN; ANPAf..r.. Brief-Arpeni-IPO Arpeni offers shares at Rp 700 JP/14/BRIEF1 Arpeni offers shares at Rp 700
JAKARTA: Shipping company PT Arpeni Pratama Ocean Line Tbk offered 500 million shares, or 33.3 percent of the company's total shares, worth between Rp 700 (7 U.S. cents) and Rp 1,200 each during its Initial Public Offering on Monday.
"The price earning ratio (PER) for each share is between 4.7 and eight times. While the PER of a similar industry is around six," said Rusmin Kasmin, financial director of DBS Vickers Securities which is the underwriter with Mandiri Securities, as quoted by detik.com.
The shares will be listed at the Jakarta Stock Exchange on June 10 with the book building period between May 2 and May 18 and the offering period from June 1 to June 3.
The company will also have a road show from May 4 to May 13 in Singapore, Hong Kong and London.
Ninety percent of the proceeds from the IPO will be used to purchase 12 ships with different specifications. -- JP
;DPA;CD; ANPAf..r.. Brief-Germany-Companies Adidas sprints out of the blocks with 46 per cent earnings rise JP/14/Brief
Adidas posts 46% earnings rise
HERZOGENAURACH, Germany: German sports equipment company adidas- Salomon reported on Monday it had got off to a "powerful start" in 2005 with first quarter net income surging 46 percent and surpassing analysts' projections.
Adidas said its surplus came to 105 million euro (US$135 million), compared with 72 million euro in the first quarter of 2004. The figure was well above analysts' predictions of a 96 million euro surplus for the period.
The surplus came on operating profits of 179 million euro, up 27 percent from the 142 million euro a year earlier.
Revenue, at just under 1.78 billion euro in the first quarter of 2005, was about 10 percent above the 1.62 billion euro in the opening 2004 quarter, the company said. -- DPA
;AP; ANPAf..r.. Brief-Pertamina-Assets Pertamina's assets provisionally estimated at Rp 126t JP/14/Brief
Pertamina's assets likely at Rp 126t
JAKARTA: PT Pertamina, Indonesia's state-owned oil company, and its units are estimated to have total assets of Rp 126 trillion (US$13.2 billion), according to provisional figures given by the finance ministry.
The estimates may change as the government is yet to complete a final division of assets with BP Migas, the country's oil industry regulator, finance director Alfred Rohimone said in Jakarta on Monday.
Pertamina used to play the additional role of a regulator until 2002 when the government handed over the powers to BP Migas. The estimate of Pertamina's assets is lower than a previous appraisal made in 2002 that put the assets at Rp 138.8 trillion, Rohimone said, without giving further details.
The government is yet to decide whether the country's two natural gas liquefaction plants should be owned by Pertamina or BP Migas, agency chairman Kardaya Warnika said on Monday. -- Bloomberg
;AP; ANPAf..r.. Brief-SembCorp-IPO Singapore's SembCorp considers IPO of Indonesian parks, resorts JP/14/Brief
SembCorp considers IPO of RI parks
SINGAPORE: SembCorp Industries Ltd., Southeast Asia's biggest civil engineering company, is considering an initial public offering of its assets on the Indonesian island of Bintan, where it has stakes in an industrial park and golf courses designed by Jack Nicklaus and Ian Baker-Finch.
"An IPO of the Bintan industrial parks and resorts is one of the alternatives which we have been exploring," SembCorp said in an e-mailed response to questions from Bloomberg.
The company is focusing on engineering, logistics and marine businesses, which are benefiting as rising oil prices and sea freight rates spur demand for ship repairs, new oil rigs and offshore platforms.
The possible sale of shares in its Bintan interests comes as the island may be poised to benefit from Singapore's efforts to more than double last year's tourist arrivals to about 16 million in the next decade. -- Bloomberg