Amman Mineral closes up 3.5% after Indonesia's biggest 2023 IPO

Copper and gold miner raised $709m, eyes demand boost from clean energy

20230707 AMMAN

Copper and gold miner Amman Mineral Internasional is the latest Indonesian resource company to test investor appetites by listing on the stock market. (Photo by Ismi Damayanti) 

ERWIDA MAULIA, NANA SHIBATA and ISMI DAMAYANTI, Nikkei staff writers

JAKARTA -- Shares in Indonesian copper and gold miner Amman Mineral Internasional closed higher Friday as it became the latest resources-focused company to list on the local bourse this year.

Amman Mineral raked in 10.73 trillion rupiah ($709 million) from its initial public offering, though fell short of its initial maximum target of 12.94 trillion rupiah. Still it marked the biggest IPO at the Indonesia Stock Exchange (IDX) so far in 2023.

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