The company said in a prospectus it would sell 2.57bn new shares, or up to 30% of its capital, between 24 and 26 November, Indonesian media reported.

This will raise between IDR 1.54 trillion and IDR 2.05 trillion ($169.36m) based on a planned price range of between IDR 600 and IDR 800 per share.

RHB OSK Securities Indonesia and Mandiri Sekuritas will underwrite the offering.

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