In today’s briefing:
- Amman Mineral IPO: Offering Details & Index Inclusion
- Amman Mineral International IPO – Peer Comparison & Thoughts on Valuation
Amman Mineral IPO: Offering Details & Index Inclusion
- Amman Mineral Internasional (1416286D IJ) is offering 7.288bn shares in its IPO at a price range of IDR 1650-1775/share to raise between US$808-870m and valuing the company between US$8.08-8.7bn.
- The stock will not get fast entry to global indices or local Indonesia indices (IDX30 Index/ LQ45 Index/ IDX80 Index).
- With listing planned for 5 July, the earliest index inclusion will be in December and there are no near-term passive flows expected for the stock.
Amman Mineral International IPO – Peer Comparison & Thoughts on Valuation
- Amman Mineral Internasional (1416286D IJ) is looking to raise up to US$868m in its Indonesian IPO.
- Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
- In our previous notes, we looked at the company’s past performance. In this note, we undertake a quick peer comparison and share our thoughts on valuation.
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