JAKARTA: Indonesia's Lion Air is set to launch an initial public offering (IPO), according to a company spokesman, in a listing that could reportedly raise up to US$1 billion – one of the country's biggest-ever share sales.
"It is true that Lion Air will proceed with an IPO," spokesman Danang Prihantoro told AFP. "The funds will be used to strengthen the company's financial structure."
He declined to comment on a timeline for the listing or how much the firm planned to raise.
Citing an unnamed sourced, Bloomberg News reported Thursday (Oct 10) that Lion – which has postponed a public listing several times in the past – could raise as much as US$1.0 billion.
That would make it Indonesia's third-biggest IPO on record, according to Bloomberg data.
Last month, Lion said itRead More – Source