Saratoga seeks growth capital through public listing

The Indonesian investment company, which owns stakes in Adaro Energy and Tower Bersama, is hoping to overcome a challenging market to raise at least $171 million from a Jakarta IPO.
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Saratoga focuses on investments in early-stage and growth-stage companies in Indonesia
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<div style="text-align: left;"> Saratoga focuses on investments in early-stage and growth-stage companies in Indonesia </div>

After completing the listing of one of its portfolio companies at the end of May, Indonesian investment company Saratoga Investama Sedaya is now trying to convince investors to support its own initial public offering.

The management met with potential investors at a lunch in Hong Kong yesterday and is hoping to wrap up its marketing in London tomorrow. The company, which is often referred to as a private equity firm, is looking to raise between Rp1.655 trillion and Rp2.116 trillion $171 million to $219 million, which it will use to strengthen its balance sheet by repaying a $50 million loan and to make further investments, both in its existing...

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