Jakarta. Shares of Mitra Energi Persada, an energy distributor, return to trading on the Indonesia Stock Exchange on Monday morning, as the company expands further in the natural gas business.

About 212 billion shares, or 11.6 percent of the company’s equity — which trade under the ticker symbol KOPI — were re-listed at Rp 395 a piece on the exchange (IDX).

The company first went public in 2001 as an e-commerce firm, and them changed its name to Korpora Persada Investama in 2005, before transforming itself again into a natural gas distributor in 2008. Its shares went off trading on the IDX in 2007.

“The decision to trade our shares on the stock exchange again is in line with our mission to develop the country’s energy industry, especially in natural gas,” Mitra Energi president director Ivo Wongkaren told reporters in Jakarta on Monday.

“We will work to boost our gas supply and also expand our customer base, because we think that more industry in South Sumatra needs more energy, especially in natural gas,” he added.

Ivo said that the company is eying more rubber manufacturers in South Sumatra as customers in the next five years.

GlobeAsia

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Source: The Jakarta Globe