Siam Cement, Barito Mull IPO to Fund Chandra Asri hike

Cholonat: Indonesia has big potential to increase petchems production. Siam Cement Group (SCG; Bangkok) and PT Barito Pacific (Jakarta) are studying ways to raise $500 million for an expansion at their Chandra Asri Petrochemical joint venture. Chandra Asri, based at Cilegon, Banten Province is Indonesia’s biggest producer of petrochemicals. Total costs of the planned expansion are expected to reach about $700 million. Potential sources of funds include an initial public offering (IPO) of shares, loans, or a registered capital increase, Cholanat Yanaranop...

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