Indonesia’s dairy firm Cimory weighing $300 million IPO
- Date: 25-Mar-2021
- Source: Salaam Gateway
- Sector:Financial Markets
- Country:Middle East
Indonesia’s dairy firm Cimory weighing $300 million IPO
Published 25 Mar,2021 via Bloomberg Markets - Cimory Group, best known for its yogurt drinks, is considering an initial public offering in Jakarta as soon as this year, according to people with knowledge of the matter.
The Indonesian company is working with advisers on the planned share sale, said the people, who asked not to be named as the information is private. The offering could raise about $300 million, which could be the country's largest IPO since Asuransi Jiwa Sinarmas Msig Tbk's $334 million share sale in 2019, one of the people said.
Details of Cimory's offering could still change as deliberations continue, the people said. The company has been exploring a few strategic fundraising avenues to support its future growth, a Cimory representative said in an emailed response to Bloomberg News, adding there's no final decision on structure or size as it's still very early in the process.
Cimory could be joining gold miner PT Archi Indonesia and the
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