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December 11, 2011

ABMM's Debut on the Stock Exchange Receives Positive Response from the Market

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ABM Investama (ABMM) successfully held its initial public listing at the Indonesia Stock Exchange. ABMM shares rose 9.3 percent to Rp 4,100 in the morning session from its opening price of Rp 3,750 before closing at Rp 3,825.

More than 200 guests including several media attended ABMM's initial public listing at the Indonesia Stock Exchange. Representing Indonesia Stock Exchange was Corporate Listing Director Eddy Sugito and Representing ABM Management as spokespersons were President Director Andi Djajanegara, Corporate Strategy Director Yovie Priadi, Corporate Finance Director Willy Adipradhana, and Corporate Support Services Director Syahnan Poerba. ABM Commissioners Rachmat Mulyana (Muki) Hamami, and Mivida (Mia) Hamami were also in attendance.

In his Speech Andi Djajanegara committed to make ABM the leading investment company in Indonesia with strategic investments in energy resources, services, and infrastructures. Eddy Sugito in his speech praised ABMM's decision to float shares on the bourse despite uncertainty in the global market.

ABMM sold 550.6 million shares, or 20 percent of the company's stake, for Rp 2.1 trillion (US$222 million) in an initial public offering last week. ABM Investama is planning to use the IPO proceeds to refinance its corporate debt and fund expansions. In the midst of a global market uncertainty, ABM Investama managed to pass with flying colors, as reflected in the oversubscription of their stock by 4.12 times.