Two Indonesian Firms Gird for IPO

By

Top private equity firm from Indonesia PT Saratoga Investama Sedaya is aiming to raise US$1 billion from its initial public offering. It also would be listing its car distribution subsidiary according to its co-founder, Sandiaga Uno.

Uno said last Wednesday, "In terms of the value of shares, we will float from the two IPOs, we expect to generate more than US$1 billion."

According to anonymous sources who shared the information with Reuters, Saratoga is projecting to raise US$200 million on its own IPO. This would be the first equity offering of a private equity firm in the Jakarta market but Uno declined to confirm the amount of the actual IPO.

This meant that the conglomerate's subsidiary PT Mitra Pinasthika Mustika would be listed by the second quarter of this year. This can raise another US$800 million for the company and has appointed Morgan Stanley and Deustche Bank as the IPO underwriters.

Clearly, the Indonesian IPO market is on the upswing.

Tags
Indonesia

© 2024 VCPOST.com All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics