Banpu Plc (Banpu) is planning a listing of its coal mine companies’ common shares on Indonesia’s stock exchange composite index in the fourth quarter this year in part of its energy business expansion plan in the neighboring country.

The energy firm said it is expecting to see annual turnover reaching $900 million from five electric plants sales.

Chanintr Vongkusolkij, president of Banpu, said the board has planned to boost its investment in Indonesia as it assessed that sub-prime crunch would not cast impact on coal mines’ revenue and it sees Indonesia as potential investment destination.

Banpu will own 80 per cent stake in five coal mine companies in Indonesia, which also will be its startup business in electricity supply expansion in the country.

“We don’t worry about the sub-prime market, as well as Indonesia’s high inflation rate. So we plan the listing in the fourth quarter,” said Chanintr.

Chanintr said Banpu has enough surplus liquidity to expand its investment by itself in five coal mines in Indonesia, which has capacity of 19 million tons per year.

1. [...] September 13, 2007 Energy firm Panpu Plc (BANPU) plans to list its coal mine unit on Indonesia’s stock exchange in the fourth quarter in part of its investment expansion on energy in the neighboring country. Read More… [...]

   Posted by Panpu mulls coal mine IPO on Indonesia’s stock exchange « Silom Journal | September 13, 2007, 12:44 pm