November 20, 2008

HK and Singaporean investors eying shares of Krakatau – Finacial director

Xinhua cited Mr Fazwar Bujang finance Director of PT Krakatau Steel as saying that investors from China's Hong Kong and Singapore are interested in buying shares of Indonesian largest steel producer of Krakatau Steel Inc.

He said that the company has completed its road show to Singapore and Hong Kong recently to meet with the investors there. He added that the company was open for the domestic and foreign investors.

Mr Fazwar Bujang said "The Krakatau Steel can accept domestic and foreign investors. The fact that recently the foreign investors have dominated our capital market. He said that the company was targeted for the initial public offering in October this year.”

Mr Fazwar Bujang said that the split of the share between domestic and foreign investors would be determined further.

In 2007 Krakatau Steel Inc, posted a net profit of around IDR 370 billion. In the first quarter of 2008 alone, the figure already reached IDR 400 billion.