(Adds details, background)
JAKARTA, April 4 (Reuters) - Indonesian nickel company
Trimegah Bangun Persada (TBP), also known as Harita Nickel, has
set its initial public offering price at 1,250 rupiah a piece to
raise 10 trillion rupiah ($669.79 million) in proceeds.
The company will sell 12.67% of its stake in the IPO set for
April 5-10, according to a company prospectus published on
Tuesday.
The pricing was set at the higher end of the initial
indicative offering range of 1,220 rupiah - 1,250 rupiah, but
the number of shares is lower than the maximum 18% previously
targeted.
The company in its partnership with China's Lygend
Resources currently operates a high pressure acid leach (HPAL)
plant in Indonesia's eastern Obi island, with an output capacity
of 55,000 tonnes of mixed hydroxide precipitate (MHP).
It has subsidiaries that operate ferronickel smelters
with a combined total capacity of 305,000 tonnes per year.
TBP's
planned investment
will add 12 more lines to produce ferronickel and three
more lines for MHP.
($1 = 14,930.0000 rupiah)
(Reporting by Fransiska Nangoy, Ananda Teresia
Editing by Ed Davies)
