Indonesia's Anugrah Neo Energy Materials plans over US$ 300 Million IPO, Sources Say

INITIAL PUBLIC OFFERING (IPO) - SINGAPORE. Indonesian nickel mining and processing company Anugrah Neo Energy Materials is planning an initial public offering to raise more than US$ 300 million on the Indonesia Stock Exchange, two people with direct knowledge of the matter said.

The company, which is developing facilities to produce materials for electric vehicle batteries, is targeting a market debut in December, the sources said, declining to be identified as the information was not public.