Lion Air set to go public before year-end
Lion Air aims to go public before the year-end in a public offering that could raise up to $1 billion.
Southeast Asia’s largest airline group confirmed it is set to launch an initial public offering.
"It is true that Lion Air will proceed with an IPO. The funds will be used to strengthen the company’s financial structure," said airline spokesman Danang Prihantoro.
It could become one of Indonesia’s largest IPOs.
Plans to list on the Indonesia Stock Exchange (IDX) are well advanced and Lion Air expects to complete all pre-listing formalities before the end of this year, said IDX’s corporate assessment director, I Gede Nyoman Yetna.
Gede said Lion Air will make a presentation to the IDX board this week.
Lion Air has attempted to go public several times over the past few years.
It is unclear how many shares will be made available in the IPO.
In a previous IPO attempt in 2016 the airline planned to float a 30% stake in a bid to raise about $800 million.
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