Indonesia’s Puradelta Lestari, also known as Deltamas, has decided to go ahead and launch its initial public offering despite mixed feedback from investors and could well be the last deal of size to test the market before the traditionally slow month of August, when many fund managers tend to take their summer holidays.
The industrial estate developer needs money to fund the basic infrastructure, such as roads, electricity and water, as well as residential housing, parks and other common facilities on the land that it is then selling to various industries for development into factories. It is seeking to raise between Rp1.569 trillion and Rp1.952 trillion $154 million to $191...
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