Daily Brief Indonesia: Amman Mineral Internasional, Evermos, Ringkas and more

In today’s briefing:

Amman Mineral Internasional IPO: The Investment Case

Amman Mineral Internasional (1416286D IJ), an Indonesian copper-gold producer, has launched an IDX IPO to raise US$860 million. Bookbuilding runs from 31 May to 16 June.
Amman’s Batu Hijau mine when combined with the Elang project has the fifth largest copper equivalent reserves in the world, according to Wood Mackenzie.
The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability, leading cost competitiveness and cash generation.

Indonesia-based social commerce platform Evermos today announced that it had raised US$39 million in its Series C funding round.
It was led by the International Finance Corporation (IFC) — a member of the World Bank group — and IFC Emerging Asia Fund, LP, managed by IFC Asset Management Company, with the participation of returning partners such as Jungle Ventures, Shunwei Capital, UOB Venture Management, and Telkomsel Mitra Inovasi.
This funding round also saw investment from new partners SWC Global, Endeavor Catalyst, and Uni-President Asset Holdings.

Indonesia-based digital mortgage startup Ringkas has secured US$3.5 million in a seed funding round led by East Ventures and Crestone Venture Capital.
500 Global, Teja Ventures, Orvel Ventures, and Hustle Fund also participated.
Ringkas will use the fresh funds to advance and scale its platform across multiple cities in Indonesia and the secondary market.

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