Inalum Pursues IPO after Spin-Off from MIND ID
PT Indonesia Asahan Aluminum, or Inalum, has announced plans for an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). Hendi Prio Santoso, President Director of MIND ID - the mining industry's state-owned holding company - said MIND ID and Inalum are also considering several funding alternatives to realize the growth strategy, including through an initial public offering or IPO. He continued that MIND ID Group is currently focusing on completing the reorganization process.
"This includes raising funds from an IPO. Of course, Inalum and MIND ID will continue to coordinate with shareholders to implement the right funding program for Inalum's growth strategy," Hendi said last weekend.