Indonesia's Deltamas revives IPO plans

The property developer aims to raise up to $200m in an IPO after an attempt in 2013 was shelved due to a lack of demand.
Jakarta
Jakarta

Indonesian property developer Puradelta Lestari started investor education ahead of an initial public offering that could raise roughly $200 million to pay for infrastructure at industrial parks.

On offer will be up to 10.8 billion primary shares or approximately 20% of the total enlarged share capital in the industrial estate developer, also known as Deltamas, according to a term sheet seen by FinanceAsia. Citi, CLSA, Macquarie and Nomura are the joint bookrunners for the international tranche, while Macquarie, Sinarmas Sekuritas and CLSA are overseeing the domestic book.

It is the latest attempt by the real estate developer to come to market after pulling its...

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