ABM Investama kicks off $215 million IPO with upsize option

The Indonesian coal mining and diversified energy company leads the way as a growing number of companies get ready to launch IPOs in Hong Kong.
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Two-thirds of Investama's IPO funds raised will go to expanding mining operations
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<div style="text-align: left;"> Two-thirds of Investama's IPO funds raised will go to expanding mining operations </div>

 

ABM Investama may have gotten an unexpected boost for its initial public offering yesterday when the Indonesian central bank cut interest rates by half a percentage point. Some economists had predicted that the bank would ease policy for the second month in a row, but none expected the cut to be more than 25 basis points.

The decision will help boost domestic demand at a time when the debt problems in Europe have spread to Italy and are causing renewed uncertainty about global growth. Stocks across Asia tumbled yesterday after a sell-off in Europe and the US the previous night and among the major markets only...

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