Banpu sells $400 million of shares in Indonesian coal mining unit

The upsized block in ITMG comes as two other Indonesian companies launch sizeable IPOs.

Indonesia continues to grab the headlines with several equity deals hitting the market over the past couple of days. On Wednesday evening, Thailand’s biggest coal miner Banpu raised about $400 million from a sale of an 8.7% stake in its Indonesian subsidiary, PT Indo Tambangraya Megah ITMG, which marked Indonesia’s second largest block trade in 10 years.

Earlier that same day, Indofood CBP had set the price range for its initial public offering and kicked off the domestic roadshow,...

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