Indonesia’s Lion Air starts work on $1 billion IPO: Bloomberg

FILE Impression: A Lion Air passenger plane sits on the tarmac of Tjilik Riwut Airport in Palangkaraya, central Kalimantan, Indonesia November one particular, 2015. REUTERS/Darren Whiteside

(Reuters) – Indonesian provider Lion Air has commenced undertaking work on $one particular billion domestic preliminary common general public giving (IPO), Bloomberg pointed out on Thursday citing resources, as it seeks to change previously the crash in Oct former yr that killed 189 persons right now on board.

The business is undertaking work with advisers on the well prepared IPO, which could pick out placement as ahead of extensive as this yr, Bloomberg pointed out.

Lion Air has talked about about its IPO program in the previously but has barely at any time extensive absent by way of it.

In 2014, the business floated strategies for an IPO to elevate up to $one particular billion but it did not function. Later on on Lion Air delayed the IPO in 2016 for the reason that of to weak sector disorders.

Lion Air Could not be rapidly attained for remark. (The tale refiles to correct dateline to March 21, working day in 1st paragraph to Thursday)

Reporting by Bhanu Pratap in Bengaluru Modifying by Gopakumar Warrier

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