PT Indonesia Asahan Aluminium (Inalum) continues to prepare for its pre-initial public offering (IPO) this year.
Previously, Inalum was expected to go public on the Indonesia Stock Exchange in 2024. However, due to considerations of the projected slowdown in the capital market during election years, Inalum postponed the plan.
“Currently, Inalum is still preparing all the necessary requirements, especially regarding the pre-IPO. However, we will inform about the exact timing when it’s fixed,” Inalum’s Corporate Secretary, Mahyaruddin Ende, said as quoted by Bisnis.com on Monday, March 18, 2024.
Ende cited that one of the preparations being made is forming an internal team to handle the document requirements for going public.
“We’re establishing an internal team to prepare the documents afterward,” he said.
Previously, Inalum’s CEO, Danny Praditya, said that fundraising through IPO aims to support the expansion of Inalum’s alumina smelter and aluminum smelting until 2030. The company aims to increase installed alumina production capacity to 3,000 kilo tons per annum (ktpa) from the two-stage expansion of the Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan.
