Indonesia’s Pertamina Geothermal targets IPO in Q2 2022, eyes over $500m

PHILE PHOTO: A view of state-owned oil giant Pertamina’s refinery unit IV in Cilacap, Central Java, Indonesia January 13, 2016. REUTERS/Darren Whiteside/File Photo

Indonesian power company PT Pertamina Geothermal Energy, a unit of state energy company Pertamina group, is targeting an initial public offering in the second quarter of this year to fuel expansion plans to meet the rising demand for green energy.

The company is seeking to raise more than $500 million from the IPO, two sources close to the plan told DealStreetAsia.

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