Bapepam approves Martina Berto IPO

JAKARTA: Cosmetics maker PT Martina Berto Tbk obtained the approval from Bapepam to conduct initial public offering (IPO) in order to snap up IDR300 billion.Bisnis news source who familiar with this matter said by obtaining approval, the manufacturer of Sari Ayu cosmestics will soon make an offer to investors."The effective notice [approval] have been obtained and the public exposure and offering to investors will probably be conducted immediately next week," he said this weekend.In the corporate action, the subsidiary of Martha Tilaar Group business plans to dispose 34% shares into the market and has already appointed PT Trimegah Securities Tbk as the underwriter.President Director of Trimegah Omar S. Anwar didnt provide any confirmation concerning the above information.Besides Martina Berto, other company that will dispose its stock to the market is PT Multifilling Mitra Indonesia, a subsidiary of PT Multipolar Tbk (MLPL) that prepare to dispose 30% of its shares when listed its initial public offering (IPO) in late 2010. The total value will be obtained around IDR50 billion.Multifilling has appointed PT Ciptadana Securities and Trimegah as the underwriters on the IPO.PT megapolitan Development will also dispose 25% of it shares with PT megapolitan Henan Putihrai Securities as lead underwriter. In addition, PT Bank Shinta Indonesia (PT Bank Sinarmas) is also planning to conduct an IPO. (t06/wiw)

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