INDONESIA PRESS-Pharma company Phapros plans to launch IPO in 2015-Investor Daily

Wed Jun 11, 2014 9:19pm EDT

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PT Phapros, the pharmaceutical unit of Rajawali Nusantara Indonesia, plans to launch an initial public offering in early 2015 when its merger with sister company Mitra Rajawali Banjaran will be completed, said Finance Director Budi Ruseno.

The company will sell 10-20 percent of its enlarged capital and aims to raise between 350 billion rupiah ($29.6 million) and 500 billion rupiah. The proceeds will be used to expand its production capacity and build hospitals. (Investor Daily, Kontan, Bisnis Indonesia)

Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,810.00 rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)