Indonesian copper miner Amman Mineral Internasional aims to raise up to 12.94 trillion rupiah ($880.6 million) in an initial public offering scheduled for June 28 to July 3, the company’s prospectus published on Wednesday said.
Book building is set to start on Wednesday with an offering price in the range of 1,650 rupiah to 1,775 rupiah per share.
The company will use the IPO proceeds to pay its outstanding loans to PT Amman Mineral Nusa Tenggara, and on capital expenditure including to fund smelter projects, the company prospectus said.
Indonesia’s IPO market has raised $1.58 billion as of April this year, second only to China in the Asia-Pacific region excluding Japan and ahead of traditional powerhouse Hong Kong, according to Refinitiv data.
Reuters