JAKARTA — VKTR Teknologi Mobilitas Indonesia (VKTR) — a unit of Indonesian conglomerate Bakrie & Brothers — is looking to raise $45 million through a listing on the Indonesia Stock Exchange (IDX) in November, a top executive told DealStreetAsia.
VKTR CEO Gilarsi W Setijono said the supplier of commercial electric vehicles — buses, trucks and delivery motorcycles — is aiming for a valuation of $200 million to $225 million by selling newly issued shares amounting to a 20% stake in the company.