Bumi Resources floats minerals unit

Bumi Resources Minerals, which is invested in gold, copper and iron ore mining assets, raises $232 million ahead of a Jakarta listing.

Bumi Resources Minerals has raised Rp2.01 trillion $232 million after pricing its initial public offering at the top of the offering range and upsizing the deal compared with earlier indications.

The company holds a portfolio of resources and mining assets, primarily gold, copper and iron ore, and the listing seems to be timed to take advantage of the strong run-up in gold and copper prices. That is, before the recent correction. However, with global demand for copper still strong and...

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