PT Anugrah Neo Energy Materials (ANEM) is reportedly preparing a massive initial public offering (IPO) on the Indonesia Stock Exchange (IDX), with potential proceeds estimated to exceed Rp5 trillion (US$301.5 million).

Market sources and investors familiar with the matter say the listing could mark one of the largest IPOs in Indonesia by year-end 2025, positioning Neo Energy as a key player in the country’s clean energy transition and nickel downstreaming efforts.

According to information on its official website, Neo Energy operates two major nickel mines, TAS and MDK, each covering over 10,000 hectares with total resources reaching hundreds of millions of wet metric tons (WMT).

MDK mine is located in Ampana, Tojo Una Una, Central Sulawesi and covering more than 10,800 hectares. It is a high-potential nickel laterite site with plans to develop 2 jetty locations to support future growth.

Located in Morowali, Central Sulawesi, TAS is a flagship laterite nickel mine, holding Indonesia's IUP 001. With over 200 million tonnes of resources and two operational jetties, the TAS Mine is the backbone of our mining operations.

Ne Energy is also expected to become Indonesia’s first Green HPAL (High Pressure Acid Leach) nickel producer, pioneering environmentally friendly nickel processing that aligns with the government’s sustainability agenda.

To support logistics and exports, Neo Energy manages multiple jetty facilities, ensuring an integrated supply chain from extraction to processing.

Currently, the company is developing a state-of-the-art HPAL facility featuring next-generation hydrometallurgical technology that promises higher efficiency, lower energy consumption, and reduced environmental impact. The plant is designed to produce hundreds of thousands of tons of Mixed Hydroxide Precipitate (MHP) annually − a key precursor material for electric vehicle (EV) batteries.

If realized, this high-efficiency operation could make Neo Energy a magnet for global investors, particularly those focused on clean energy and battery manufacturing sectors.

Neo Energy’s main operations are based in two National Strategic Project (PSN) industrial zones − the Neo Energy Morowali Industrial Estate (NEMIE) and the Neo Energy Parimo Industrial Estate (NEPIE). Both areas will feature deep-sea ports, hydropower plants, and solar farms, underscoring the company’s commitment to renewable energy integration.

Sources also indicate that Neo Energy has completed the preliminary registration stage for its IPO and is preparing to enter the investor education phase in the near future. The public offering is expected to take place by the end of 2025.

If confirmed, the listing could rank among Indonesia’s largest IPOs of the year, reinforcing the nation’s growing role in the global green nickel and EV battery industry.

Neo Energy has not yet issued an official statement regarding the IPO plan, and requests for confirmation from company representatives remain unanswered as of publication.