Indonesia's Pertamina geothermal unit targets raising as much as $652 million in IPO

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Indonesia's Pertamina geothermal unit targets as much as $652 million in IPO

JAKARTA : Indonesia's Pertamina Geothermal Energy, a unit of state energy company Pertamina, plans to offer as much as 25 per cent of its stake in an initial public offering this month to raise a maximum 9.78 trillion rupiah in proceeds.

The public offering is scheduled for Feb. 20-22. CSLA Sekuritas Indonesia, Credit Suisse Sekuritas Indonesia, and Mandiri Sekuritas were hired as underwriters.

 

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