Coal miner Adaro Energy (ADRO) announced its unit overseas, Arindo Holdings Limited, has launched the initial public offering (IPO) in an island nation in East Africa, Mauritius. Arindo Holdings released 26,132,004 shares. Of this amount about 5% has been absorbed by the public with a nominal value of US$ 11.45 per share. Arindo Holdings will get fresh funds of US$12.1 million or equivalent to Rp163.35 billion. The funds will be used to pay off part of the debt and working capital.