Atlas Resources raises $110 million from IPO

Indonesian coal miner Atlas Resources fixes the price at the bottom of the range and scraps the secondary portion of the deal.
<div style="text-align: left;">
Atlas's copper mine in Lutopan, Philippines
</div>
<div style="text-align: left;"> Atlas's copper mine in Lutopan, Philippines </div>

Indonesian coal miner Atlas Resources has raised Rp975 billion $110 million from its initial public offering after electing to sell only new shares and fixing the price at the bottom of the range at Rp1,500. The final size is towards the low end of the targeted deal size which, including a secondary share sale and an upsize option, could have been as large as $157 million.

The bookbuilding closed a week ago on October 18, but the price wasn’t released until yesterday.

The institutional portion of the deal, which accounted for more than 98%, attracted less than 20 investors and was primarily covered by corporate-type...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222