Lion Air joins record rush of Indonesian firms planning IPOsFounder of Lion Air Group Rusdi Kirana walks with Indonesia's Transport Minister Budi Karya Sumadi and Indonesia's Coordinating Minister of Economic Affairs Darmin Nasution, as they inspect the facilities of Batam Aero Technic (BAT) at Hang Nadim International airport in Batam island, Indonesia, Aug 14, 2019. Lion Air began preparations for an initial public offer early this year and is targeting about $1 billion, people with knowledge of the matter said in March. Lion Air spokesman Danang Prihantoro declined to comment on the share sale plan on Wednesday. Lion Air has mooted the possibility of listing as far back as 2005, though the plans have been delayed multiple times due to a flagging Indonesian economy and other issues. “Most of the companies hitting the market are small firms to raise small amounts,” said Octavianus Budianto, president director of PT Kresna Sekuritas.

Source: Bangkok Post October 09, 2019 09:56 UTC