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)