Lion Air Will IPO, Aim For Fresh Funds Worth IDR 7.75 Trillion

Illustration (Photo: Doc. Antara)

PT Lion Mentari Airlines or Lion Air is rumored to be conducting an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).

The company owned by Rusdi Kirana is eyeing fresh funds of US$500 million or equivalent to Rp7.75 trillion (assuming an exchange rate of Rp15,500 per dollar).

Quoting Bloomberg, PT Lion Mentari Airlines is working with financial advisors to socialize the IPO plan. In fact, it has the potential to occur at the end of 2024.

Currently, there are several considerations. For example, the number of shares to be offered includes an IPO schedule that can still change.

"The company can raise 300 million US dollars to 500 million US dollars," said a Bloomberg source, quoted Friday, January 12.

Quoted from various sources, Lion Air's plan to conduct an IPO has been explored in 2019. However, the presence of the COVID-19 pandemic has postponed the plan.

Regarding the IPO plan, VOI has contacted the Corporate Communications Strategic of Lion Air Danang Mandala. However, the person concerned has not responded until this news is broadcast.