SINGAPORE: Indonesia’s Pertamina Geothermal Energy, a unit of state energy company Pertamina, has narrowed the price range for its initial public offering (IPO), according to a term sheet seen by Reuters.
The top end of the range of 880 rupiah (25 sen) a piece values the IPO at up to 9.11 trillion rupiah (US$611mil or RM2.6bil), the largest in Indonesia in almost a year after the US$1.1bil (RM4.7bil) listing of tech firm GoTo in April.
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