Heavy equipment distributor PT Intraco Penta expects its financing unit, PT Intan Baruprana Finance, to launch an initial public offering by selling 10 percent of its enlarged capital, said Director Fred L. Marnibog.
He said the firm secured shareholders’ approval on Aug. 25. Intan Baruprana had total assets worth 2.5 trillion rupiah ($213.22 million) as of June. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 11,725 Indonesian rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)