Indonesia’s coal mining company PT Borneo Olah Sarana Sukses (BOSS) has set the prices of its initial public offering (IPO) from 400 rupiah (2.95 US cents) to 600 rupiah (4.43 US cents) on Thursday.

The company is offering 400 million shares, equivalent to 28.57 per cent of its total capital, aiming to raise up to 160 billion rupiah.

BOSS director Widodo Nurly Sumady said proceedings from the the IPO would be added to its capital expenditure to fund infrastructure projects in coal hauling and jetty facilities.

Widodo said the coal miner was targeting increased production in 2018.

“Last year, we managed to produce 500,000 metric tons,” Widodo told a press conference at the Indonesia Stock Exchange (IDX). – The Jakarta Post

DICT pushes back entry of third telco player

Philippines’ Department of Information and Communications Technology (DICT) has pushed back the bidding exercise for a new telco player to May 2018 to ensure more participants in the selection process, its top official said.

The decision ran counter to President Duterte’s continued insistence for a third player to be up and running by March 2018— a timeline tagged by industry observers as unrealistic. Duterte wants a new telco player to enter the market and break the industry duopoly of PLDT Inc. and Globe Telecom.

DICT acting secretary Eliseo Rio said the tentative bidding date was set for May 18 this year, heeding the request for a two-month extension sought by interested participants during the last public stakeholders meeting on January 24.

“The request is coming from the contenders themselves,” Rio said in a text message Thursday. “If we force the end of March deadline, there might not be any bidders.”

Interested groups earlier said the March deadline was impossible to meet. They also cited holidays coming up, such as the Holy Week next month. – Philippine Daily Inquirer