Cikarang Listrindo seals rare utilities IPO

The Indonesian independent power producer raises $272 million from the first IPO out of the country's power and utilities sector since 2008.

Independent power producer Cikarang Listrindo will become the first utilities company to list on the Indonesian Stock Exchange in eight years after setting a Rp3.6 trillion ($272 million) pricing for its initial public offering on Friday.

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