Trimegah Bangun Persada (TBP), popularly known as Harita Nickel in Indonesia, has set its initial public offering price at 1,250 rupiah per share in order to generate 10 trillion rupiah ($669.79 million) in revenues.
According to a business prospectus issued on Tuesday, the company will sell 12.67% of its interest in the IPO scheduled for April 5-10.
The price is at the upper end of the first indicative offering range of 1,220 - 1,250 rupiah, although the number of shares is fewer than the maximum 18% initially intended.
In collaboration with China's Lygend Resources, the business now operates a high pressure acid leach (HPAL) plant in Indonesia's eastern Obi island, with a capacity of 55,000 tonnes of mixed hydroxide precipitate (MHP).
It has subsidiaries that run ferronickel smelters with a total annual capacity of 305,000 tonnes.
TBP's projected investment will install 12 more ferronickel lines and three more MHP lines.
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