UPDATE 1-Indonesia miner Borneo Lumbung eyes $400 mln in Nov IPO

* Coking coal miner Borneo plans to sell 3.4 bln new shares

* Plans global roadshow from Oct 27 until Nov 9

* Energy firm Amstelco also to list via Indocitra Finance (Adds details, quotes)

JAKARTA, Oct 7 (Reuters) - Indonesia's PT Borneo Lumbung Energi plans to raise up to 4 trillion rupiah ($448.4 million) and be the first coking coal miner listed in Jakarta by selling a 20 percent stake in an initial public offering in November.

The IPO would offer investors an opportunity to tap into coking coal assets to get exposure to growing demand for steel.

Geroad Jusuf, a director at Borneo, said the company plans to sell 3.4 billion new shares and has appointed Credit Suisse (CSGN.VX), CIMB (CIMB.KL) and Morgan Stanley (MS.N) as underwriters on the deal.

"We hope we can get permission from the regulator by next week," said Jusuf, adding that the company plans to do international roadshow from October 27 until November 9.

Indonesia is the world's largest exporter of thermal coal, used for power plants. Big thermal coal miners listed in Jakarta include Bumi Resources (BUMI.JK) and Adaro Energy (ADRO.JK), while coal miner Harum Energy (HRUM.JK) debuted on Wednesday.

An official at the Indonesian Coal Mining Association told Reuters in June that Borneo Lumbung Energi has three mining units in the Central Kalimantan area, one of them producing high quality coking coal and the other two producing thermal coal.

Borneo Lumbung has 192 million tonnes of coking coal resources and 22.9 million tonnes of coking reserves, while its thermal coal resources and reserves stand at 70 million tonnes and 40 million tonnes respectively, according to industry data.

Borneo Lumbung's coal assets are located close to a site operated jointly by BHP Billiton (BHP.AX) and Adaro.

Coking or metallurgical coal is sold to steel mills and commands a higher price per tonne than thermal coal.

Growth in global steel demand is expected to slow to 5.3 percent in 2011 but to still hit a record 1.34 billion tonnes after jumping more than expected this year, according to the World Steel Association. [ID:nTOE693033]

Indonesia's Coal Mining Association data showed Borneo Lumbing produced 2.4 million tonnes of coal last year and aims to boost its output to 3.4-3.6 million tonnes in 2010.

In another sign of companies increasingly eager to enter a Jakarta index .JKSE near record highs, energy firms Amstelco Plc and PT Amstelco Energy Resources plan to enter the market through PT Indocitra Finance (INCF.JK). [ID:nJKB004023] (Reporting by Fathiya Dahrul and Janeman Latul; Editing by Neil Chatterjee)