State steel producer Krakatau Steel (KRAS) launched initial public offering (IPO) of its shares at Rp850 per share nearly seven years ago. The stock stayed above IPO price for around 11 months, but has since traded below IPO price. The Company’s joint venture with POSCO, one of the world’s largest steel producers, was seen promising, but three years into commercial operation the JV is still in red.To subscribe please click here