JAKARTA: Gold miner PT Archi Indonesia has shelved a planned initial public offering (IPO) to raise up to 4.6 trillion rupiah ($374 million) after weak investor interest, IFR reported on Wednesday citing three people familiar with the matter.
The planned IPO comprised a primary tranche of 1.6 billion shares and a secondary tranche of 279 million shares, with an indicative price range of 1,895 rupiah to 2,445 rupiah, IFR said.
The miner could re-launch the IPO in the future, a person working on the listing told IFR, a Thomson Reuters publication.
Archi is a unit of Indonesian conglomerate Rajawali Corp, which is controlled by tycoon Peter Sondakh. The miner said last month the IPO proceeds were to fund acquisitions and pay debt.
Comments
Comments are closed.