Indonesia’s Pertamina Hulu Energi begins roadshow ahead of IPO-term report | – #Indonesias #Pertamina #Hulu #Energi #begins #roadshow #ahead #IPOterm #report
SINGAPORE, March 28 (Reuters) – Pertamina Hulu Energi, the upstream unit of Indonesia’s state-owned energy company Pertamina, is set to issue an initial public offering, according to an interim report seen by Reuters. offer (IPO) on Tuesday launched an awareness show for investors.
Pertamina Hulu declined to comment.
Indonesia’s financial regulator said the company delayed its IPO plan last month due to an administrative problem.
According to sources familiar with the matter, the company’s proposal 10– 15% share will be sold and 2 from it billion it was expected to raise up to USD.
2, surpassing the $647 million IPO of Indonesian nickel company PT Trimegah Bangun Persada, which is scheduled to debut on the stock exchange next month. billion in dollars, it will be Southeast Asia’s largest IPO.
Most of the proceeds from the Pertamina Hulu IPO will be used for exploration and development activities, as well as new oil and gas plans to use it to finance capital expenditures for the acquisition of its assets.
Citigroup ( CN ), Credit Suisse ( CSGN.S ) and JPMorgan ( JPM.N ), Indonesia’s BRI Danareksa and Bank Together with Mandiri, they are the joint bookrunners of the IPO.
Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore; Added by Bernadette Christina in Jakarta report; Edited by Himani Sarkar
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Source – reuters