It is raining IPO news in Indonesia even as the country is expecting at least 35 companies to make the market debut in 2016. The country saw barely 20 companies raising about $1 billion through their offerings in 2015. State-owned energy company PT Pertamina is planning a share sale of three of its subsidiaries while PT Bank Sinarmas Tbk (BSIM), a small-sized lender of conglomerate Sinar Mas Group, plans to sell 7.8 per cent of its enlarged capital in May to support its loan expansion.
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