Bernadette Christina, writing for Reuters, reports that Indonesia nickel company, Merdeka Battery Materials, which is a unit of Merdeka Copper Gold MDKA.JK and holds a portfolio of high-quality EV battery value chain assets located in Central and South East Sulawesi is planning a IDR 8.745-trillion (approx. USD 580.29-million) Initial Public Offering (IPO) in April, a prospectus published on Tuesday showed.
The company plans to sell 10.24-percent shares in the IPO at IDR 780 to IDR 795 a piece. However, the company will issue an additional 1.01-percent shares in case of oversubscription which could put the IPO at a total of IDR 9.619-trillion.
Exchange rates have been calculated at USD 1 = IDR 15,070
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