Coal miner ABM Investama is planning to sell shares worth $300 million in an initial public offering (IPO), NASDAQ reports. The company, which is a division of equipment company PT Trakindo Utama, may launch the IPO in October 2011.

The company has appointed Mandiri Sekuritas and Macquarie Capital Securities Indonesia as joint lead underwriters for the IPO. The Indonesian company is expected to expand by 6.5% this year, as compared to 6.1% in 2010.

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