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Indonesian property developer Dafam Group aims to raise up to 1 trillion rupiah ($85.4 million) in an initial public offering in 2017, earlier than its previous plan of launching the offering in 2019, said CEO Billy Dahlan.
The company, which is expected to sell up to 40 percent of its enlarged capital, will use the proceeds to increase its land bank, and build hotels and residential buildings. (Investor Daily)
(1 US dollar = 11,715.00 rupiah)
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)