Lion Air's management declined to comment on IPO plan

INITIAL PUBLIC OFFERING (IPO) - JAKARTA. Lion Air is reportedly starting preparations for the initial public offering (IPO) process with a target fund of US $ 1 billion or Rp 14 trillion.

Responding to the news, Lion Air Director, Group Edward Sirait declined to comment. "Sorry for that I can't comment," he said when contacted by Kontan.co.id on Thursday (3/21).

The airline with the red lion logo had previously visited the Indonesia Stock Exchange (IDX) to join the master class program held by the IDX.

IDX Director I Gede Nyoman Yetna said that indeed Lion Air had participated in a master class program launched by the stock exchange. The activity was designed for companies that will conduct IPOs, especially having mature plans to go public.

"At this time the document is officially not received by the stock exchange. The Exchange welcomes Lion Air to realize the plan immediately, " Nyoman said.