Berau Coal kicks off IPO of up to $133 million

The offering is downsized versus earlier plans after the Indonesian coal producer also raised $750 million from the sale of high-yield bonds and a bank loan.

Berau Coal Energy, the fifth largest coal producer in Indonesia, will kick off an international roadshow for its initial public offering this week after starting to take orders from domestic investors on Wednesday last week.

The company is aiming to raise between Rp900 billion and Rp1.2 trillion $100 million and $133 million, which is significantly smaller than the $300 million talked about earlier. The reduction comes after the company has raised more money than planned through the sale of...

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