KONTAN.CO.ID - SINGAPORE. Indonesian nickel firm PT Merdeka Battery Materials plans to price its shares at 795 rupiah each, at the top of the range for its initial public offering (IPO) to raise 8.75 trillion rupiah ($586.46 million), two sources with direct knowledge of the matter said. As Indonesia steps up its efforts to become a major player in the electric vehicle industry and enjoys a flurry of IPOs, the pricing would make Merdeka Battery's IPO the second largest in Indonesia this year after its peer PT Trimegah Bangun Persada raised 10 trillion rupiah. Merdeka did not immediately respond to a request for comment.
Indonesia's Merdeka Battery Set to Price Shares at Top in $586 mln IPO
KONTAN.CO.ID - SINGAPORE. Indonesian nickel firm PT Merdeka Battery Materials plans to price its shares at 795 rupiah each, at the top of the range for its initial public offering (IPO) to raise 8.75 trillion rupiah ($586.46 million), two sources with direct knowledge of the matter said. As Indonesia steps up its efforts to become a major player in the electric vehicle industry and enjoys a flurry of IPOs, the pricing would make Merdeka Battery's IPO the second largest in Indonesia this year after its peer PT Trimegah Bangun Persada raised 10 trillion rupiah. Merdeka did not immediately respond to a request for comment.