Business

Indonesia’s Lion air set to list shares

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.

The fundraising by Southeast Asia's largest airline comes after it suffered a recent customer data leak and a nearly one year after a high-profile crash that killed 189 people.

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"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.

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Last month, Lion said itRead More – Source

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