JAKARTA -- Indonesian nickel company Trimegah Bangun Persada, a unit of the Harita Group natural resources conglomerate, is seeking to raise up to 15.12 trillion rupiah ($983 million) in an initial public offering next month, the company said on Friday, as it aims to expand capacity and further develop Indonesia's vast potential in the metal.
"We will use funds from this [initial public] offering to complete the construction of our business development," Roy Arman Arfandy, president director of the company, said at a news conference. He also said the company would quadruple nickel production in 2023 from 2022 levels.
