Indonesian coal miner seeks listing

Indika Energy hopes to raise up to $400 million to fund its plans to become an energy conglomerate.

PT Indika Energy looks set to become the first Indonesian company to launch an initial public offering open to international investors this year after the bookrunners started the investor education yesterday. According to sources, the energy conglomerate, which owns 46% of IndonesiaƆs third largest coal mine, is aiming to raise about $300 million to $400 million from the offering.

The company is selling 22% of its share capital or 937.3 million shares. About 70% of the deal will be offered...

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