Indonesia’s Indosmelt plans IPO to build gold refinery

Posted on February 17, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Indonesia’s PT Indosmelt plans an initial public offering (IPO) by the end of 2015 to raise about $500 million to build a gold refinery, its president director said on Monday.

The company will sell a stake of up to 49 percent to the public and Kresna Sekuritas will be the underwriter, Natsir Mansyur told reporters.

The gold refinery, which is targeted to have a production capacity of 20 tonnes per annum, will be part of a $1.5 billion copper and gold project in South Sulawesi. A consortium of local and foreign banks will provide some financing.