ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Indonesia EV supplier VKTR looks to raise $45m from domestic IPO

CEO says company eyeing November listing

Indonesia's VKTR is gearing up to launch electric buses in 2023. (Source image from VKTR website)

JAKARTA -- VKTR Teknologi Mobilitas Indonesia (VKTR) -- a unit of Indonesian conglomerate Bakrie & Brothers -- is looking to raise $45 million through a listing on the Indonesia Stock Exchange (IDX) in November, a top executive told DealStreetAsia.

VKTR CEO Gilarsi W Setijono said the supplier of commercial electric vehicles -- buses, trucks and delivery motorcycles -- is aiming for a valuation of $200 million to $225 million by selling newly issued shares amounting to a 20% stake in the company.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more