Baiju Kalesh, Fathiya Dahrul and Elffie Chew reporting for Bloomberg News, write that PT Amman Mineral Internasional, which consists of three subsidiaries supporting copper and gold mining operations in Batu Hijau in Sumbawa, Indonesia’s second-largest copper and gold mine, is considering an Initial Public Offering (IPO) in Jakarta that could raise as much as USD 1-billion.
According to reporting, PT Amman Mineral Internasional is working with financial advisers to prepare for an IPO listing, which could happen soon.
PT Amman Mineral Internasional’s management continuously evaluates various opportunities and options for growth and will decide on the best option when conditions and timing are ripe, its representative said in response to a Bloomberg News query. She declined however, to comment on the IPO plans.
Indonesia has been the most active IPO market in Southeast Asia so far this year, hosting about USD 656-million worth of deals and at USD 1-billion, this one could be the largest since Mitratel’s USD 1.3-billion share sale in November 2021, according to data compiled by Bloomberg.
Indonesia could remain a buoyant IPO market for large listings this year. PT Pertamina Geothermal Energy is scheduled to list on Friday after raising IDR 9.06-trillion (approx. USD 596-million) in its first-time share sale.
PT Nusantara Sejahtera Raya, the operator of Cinema XXI, Indonesia’s largest movie theater chain, is considering an IPO that could raise as much as USD 1.1-billion, Bloomberg News has reported.
PT Amman Mineral Internasional owns a total of 25,000-hectares of concession areas with 17.5-billion pounds of copper and 23.9-million ounces of gold reserves, according to its website.
The firm’s Batu Hijau mine in Sumbawa, has produced 8.78-billion pounds of copper and 8.7-million ounces of gold since it commenced operations in 2000.
Source: Bloomberg News
