Prime Petroservice IPO: Finance Trading Times

Prime Petroservice IPO

A new IPO is set to hit the Indonesian Stock markets in August 2008. The IPO or initial public offering belongs to Indonesian oil and gas service company PT Prime Petroservice Tbk.
Prime Petroservice IPO
How many shares will be offered for sale through the Prime Petroservice IPO?
A total of 1.78 billion shares will be offered for sale through the Prime Petroservice IPO, Indonesia.

When are the opening dates for Prime Petroservice IPO?
The Prime Petroservice IPO is expected to come to the markets on Date August 19 to 21, 2008.

What is the price of Prime Petroservice IPO shares?
The price of Prime Petroservice IPO shares or the offer price of Prime Petroservice IPO shares has not been determined as of yet. But the same will be available very soon.

When will the Prime Petroservice IPO shares be listed on the Indonesian Stock Exchange?
The listing date of Prime Petroservice IPO shares is August 26,, 2008.

What are the offerings in this IPO, other than shares?
The company will also issue 1.43 billion warrants that will be attached to the IPO shares. For every five shares, holders will get four warrants. Holders of each warrant has the right to buy one new share to be issued by the company within three years

Where will the fund raised will be used by Prime Petroservice IPO?
Prime Petroservice said it will use 90 percent of the IPO proceeds to finance investments, including building oil and gas production facilities, purchasing rig and drilling equipment as well as constructing liquid natural gas facilities.

What are the business valuations and financial results of Prime Petroservice IPO?
The company posted sales of 168.4 billion rupiah in 2007 against 83.71 billion rupiah a year earlier, while net profit increased to 32.28 billion rupiah from 8.19 billion rupiah.
In the first quarter, the company posted net profit of 9.54 billion rupiah on sales of 65.64 billion rupiah.
Key shareholders of Prime Petroservice include PT Eclipse Pacific Service which owns 79 percent and PT Barata Makmur Abadi with 9.8 percent.

PT Recapital Securities, affiliate PT Madani Securities and PT Ciptadana Securities will be the underwriters of the Prime Petroservice IPO. Table of Contents
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