Cikarang Listrindo $275 million IDX IPO

Overview:

• Indonesia power plant Cikarang Listrindo has become the first energy company to list in the Indonesian market.
• The approximately $275 million IPO was listed on the Indonesia Stock Exchange (IDX) on June 20.
• Citigroup, Deutsche Bank and UBS acted as the international underwriters. Indo Premier Securities, Citigroup Securities Indonesia, Deutsche Securities Indonesia and UBS Securities Indonesia acted as the domestic underwriters.
• Herbert Smith Freehills was counsel to the international underwriters and Hiswara Bunjamin & Tandjung was counsel to domestic underwriters.
• The Shearman & Sterling (Kyungwon Lee, Andrew Schleider, Hae-Ran Song) advised the issuer alongside Assegaf Hamzah & Partners as Indoneisa counsel.

Candy Chan - Journalist - Asia-Pacific