Lion Air reported to eye US$ 1 billion in IPO proceeds

05 November 2019 11:20

JAKARTA - Lion Air’s planned initial public offering (IPO) could raise between US$ 750 million and US$ 1 billion, according to sources familiar with the matter.

The low-cost carrier is expecting to use the IPO proceeds to finance aircraft deliveries. Throughout the year, key decisions regarding the widely anticipated corporate action were for a time put aside while the airline awaited an official report on the crash of Lion Air Flight 610 last year.

“The Indonesian market is finally showing signs of stability. This is a good time to tap the market,” one of the sources, who opted to remain anonymous, told Reuters on Monday (4/11).

A Lion Air spokesperson declined to comment. (MS)

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