re ipo

International investors are keen to get a piece of Indonesia’s leading department store operator, allowing the price to be fixed above the mid-point.

The deal is supported by 15 cornerstone investors, who will buy up to 36% of the base offering, and was fully covered on the first day, sources say.

The secondary share sale, which will essentially be a re-IPO of the Indonesian company, is expected to raise at least $1 billion.

Century Properties is looking to expand its shareholder base after a backdoor listing last year.