INDONESIA PRESS-Medco Power expects IPO by mid-2015 -Kontan

Wed May 7, 2014 8:59pm EDT

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Electricity producer PT Medco Power Indonesia, a unit of PT Saratoga Investama Sedaya, expects to launch a $200 million initial public offering (IPO) towards the end of this year or by mid-2015, said Medco Power CEO Fazil Erwin Alfitri.

The firm will use the proceeds to finance projects worth up to $1.3 billion until 2017. Medco Power owns several projects including the Sarulla and Ijen geothermal power plants, five mini-hydropower plants, and a power plant in Batam. (Kontan)

Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)

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