Berau Coal Offer Rp 300-400/Share

JAKARTA-

PT Berau Coal Energy, which owns Indonesia's fifth-biggest coal miner PT Berau Coal, may raise as much as 2.8 trillion rupiah ($310 million) in its initial public offering based on the share price range set on Wednesday.

Berau Coal Energy has set the price range for bookbuilding at 300 rupiah to 400 rupiah per share, said Vicky Ganda Saputra, vice president of investment banking at Danatama Makmur, one of the underwriters, following a due diligence meeting with investors on Wednesday.