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...
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