Stay information: Indonesia’s greatest IPO of the yr Harita Nickel opens increased

Harita Nickel opened increased on Wednesday morning, after itemizing on Jakarta’s inventory alternate within the nation’s greatest preliminary public providing of the yr.

The inventory opened at Rp1,285 ($0.09), 2.8 per cent increased than its IPO worth. It later pared positive factors to be up about 0.8 per cent.

The corporate, often known as Trimegah Bangun Persada, raised about $660mn from traders together with Swiss commodities dealer Glencore and Asian sovereign wealth funds in Indonesia’s largest preliminary public providing to this point this yr.

Nickel is a vital element in electrical automobile batteries. Jakarta is pushing to develop an end-to-end electrical automobile provide chain.

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