Indonesia’s Lion Air set to launch initial public offering

Jakarta: Indonesia’s Lion Air is set to launch an initial public offering, according to a company spokesman, in a listing that could reportedly raise up to $1.0 billion — one of the country’s biggest-ever share sales.
The fundraising by Southeast Asia’s largest airline comes after it suffered a recent customer data leak and a nearly one year after a high-profile crash that killed 189 people. “It is true that Lion Air will proceed with an IPO,” spokesman Danang Prihantoro said. “The funds will be used to strengthen the company’s financial structure.”
He declined to comment on a timeline for the listing or how much the firm planned to raise.
Citing an unnamed sourced, Bloomberg News reported on Thursday that Lion Air — which has postponed a public listing several times in the past — could raise as much as $1.0 billion. — AFP