Indonesia’s Medco Power Plans $200M IPO by Mid-2015

 Indonesia–Power company Medco Power Indonesia plans to raise $200 million from an initial public offering at the end of 2014 or mid-2015 to fund energy investments, its president director said Wednesday.

The company, owned by Saratoga Power and Medco Energi Internasional, has plans to develop nine geothermal and hydroelectric plants on the heavily populated Indonesian islands of Java and Sumatra with a total investment $1.3 billion through 2017.

“We’re considering releasing 25% of our stake through an IPO,” president director Fazil E. Alfitri told reporters after a meeting of shareholders of Saratoga Investama Sedaya, parent company of Saratoga Power. Before that, the firm plans to sell part of its stake in the Ijen project, a 110-megawatt geothermal power plant in eastern Java.

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Posted May 9, 2014 by repit in News

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