Medco Power delays IPO
Monday, May 4 2015 - 02:42 AM WIB
Electricity company PT Medco Power Indonesia has decided to delay its initial public offering (IPO) plan this year due to unfavorable capital market condition, Bisnis Indonesia reported on Monday.
?It seems that the IPO of Medco Power Indonesia will not happen this year,? Lukman Mahfoedz, President Director of IDX-listed PT Medco Energi Internasional Tbk, the parent of Medco Power, told the paper.
Medco Power, which is owned by Medco Energi and IDX-listed PT Saratoga Sedaya Investama Tbk, initially planned to sell 25 percent of its shares to the public via IPO this year. (*)