Berau Coal Energy, the fifth largest coal producer in Indonesia, will kick off an international roadshow for its initial public offering this week after starting to take orders from domestic investors on Wednesday last week.
The company is aiming to raise between Rp900 billion and Rp1.2 trillion $100 million and $133 million, which is significantly smaller than the $300 million talked about earlier. The reduction comes after the company has raised more money than planned through the sale of high-yield bonds and a bank loan over the past month, but the deal has also been sized to correspond with the level of real demand, particularly from Indonesia, that the bookrunners feel exists based on...
¬ Haymarket Media Limited. All rights reserved.
