Bisnis Indonesia , Bakrie group may float Pendopo Energy Batubara by end-2011 in Hong Kong Stock Exchange, an unnamed executive told local newspaper. The value is being calculated, but the target is big because the IPO proceeds will be used for production development, the source said. The shares listing in Hong Kong may be due to regulation in Indonesia did not allow, as Pendopo is yet to commence production, the source added. Bumi Resources acquired 84% stake in Pendopo, the report said.
