Siam Cement and Barito Mull IPO to Fund Chandra Asri Expansion in Indonesia

Siam Cement Group (SCG; Bangkok) and PT Barito Pacific (Jakarta) are studying ways to raise $500 million to expand their Chandra Asri Petrochemical joint venture, Indonesia’s largest producer of petrochemicals based at Cilegon, Banten Province, Indonesia. Total cost of the expansion will reach about $700 million. Cholanat Yanaranop, president of SCG Chemicals says that potential sources of funds include initial public offering (IPO) of shares, loans or a registered capital increase. Chandra Asri is owned 64.87% by Barito and 30% by SCG Chemicals with 5.13%...

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