Recreation park Ancol to go public

Recreation park Ancol to go public

JAKARTA: PT Pembangunan Jaya Ancol, a recreation park
operator, said on Monday it planned to sell up to 127 million
shares through a public offering in June.

"We plan to sell up to 15 percent of our total equity," Jaya
Ancol president Budi Karya Sumadi told reporters.

He said the company expects to raise up to Rp 180 billion from
the IPO, which will be used to develop business. Jaya Ancol,
which is 80 percent owned by the Jakarta administration, has
around 11 million visitors annually, Budi said. -- Dow Jones