Krakatau's Delayed IPO Doesn't Mean Stake Sale Is Back On Table

Indonesia's state-owned steelmaker, Krakatau Steel, has chosen to look for strategic fundraising abroad after its initial public offering (IPO) was postponed by the government. Krakatau, which hopes to hold an IPO next year if credit markets rebound, had originally wanted to raise about INR210trn (then around US$200mn) from the listing to fund expansion. Prior to this, it looked as though the government would sell a 40% stake in the company to a strategic investor.

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