PT Newmont Nusa Tenggara (PT NNT) - a local unit of US mining giant Newmont Mining Corporation, which operates the Batu Hijau gold and copper mine in West Nusa Tenggara - has confirmed a plan to offer shares to the public through an initial public offering (IPO).
"We will hold an extraordinary general shareholders meeting next week with one item on agenda being the discussion of an IPO to add more financing options for NNT," Newmont's spokesperson for Indonesian operation Rubi W. Purnomo said in a text message sent Wednesday.
In a letter sent to shareholders, NNT said it would discuss a plan to offer or sell 1,127,620,000 new shares to the public.
Rubi said the IPO would only be done with careful consideration and approval from the government.
http://www.thejakartapost.com/news/2010/08/11/newmont-nusa-tenggara-confirms-ipo-plan.html
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