Deals

Harita Nickel to Soon Kick Off $650 Million Indonesian IPO

Firm offers shares at 1,220 to 1,250 rupiah apiece, terms show
Nickel is pivotal to Jokowi’s vision of having EV supply chain

Harita Nickel’s Halmahera Persada Lygend processing facility on Obi Island.Photographer: Dimas Ardian/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Yudith Ho and Filipe Pacheco

March 14, 2023 at 9:48 AM UTC

Updated on

March 15, 2023 at 1:03 AM UTC

This article is for subscribers only.

Indonesian metal and mining firm PT Trimegah Bangun Persada started taking orders on Wednesday for an initial public offering of as much as $647 million, according to terms of the deal seen by Bloomberg News.

The company, also known as Harita Nickel, is offering as many as 8.1 billion shares at 1,220 to 1,250 rupiah each, according to terms confirming an earlier Bloomberg News report. At the top end of the price range, Harita Nickel would have a market value of about $5.1 billion. It’s taking orders from Wednesday and plans to price the offering March 24. Trading in the shares is expected to start April 12.