SINGAPORE :Indonesian nickel firm PT Merdeka Battery Materials plans to price its shares at 795 rupiah each, at the top of the range for its initial public offering to raise 8.75 trillion rupiah , two sources with direct knowledge of the matter said.
The IPO has attracted interest from sovereign wealth funds, insurance firms and long-only local and overseas investors, according to one of the two sources, who said the pricing would be at the top of the range.Merdeka Battery is scheduled to debut on the Indonesia's stock exchange on April 18, according to the term sheet, following the IPO debut of Trimegah Bangun Persada, also known as Harita Nickel, on April 12.
Some $828.1 million worth of share sales were issued in the first quarter, Refinitiv Eikon data showed, up from $202.3 million a year earlier.
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