PT Kirana Megatara, crumb rubber producer, has kicked off an initial public offering (IPO) of 1.15 billion shares at Rp400 to Rp480 per share. The company expects to raise between Rp460 billion and Rp550 billion from the IPO to strengthen equity and finance expansion plans. The IPO is interesting because natural rubber rallied from 150 yen/Kg in third quarter of 2016 to as high as 350 yen/kg early this year, but has since retreated to around 200 yen/Kg.To subscribe please click here
