Live news: Indonesia’s biggest IPO of the year Harita Nickel opens higher

Harita Nickel opened larger on Wednesday morning, after itemizing on Jakarta’s inventory trade within the nation’s largest preliminary public providing of the yr.

The inventory opened at Rp1,285 ($0.09), 2.8 per cent larger than its IPO worth. It later pared positive aspects to be up about 0.8 per cent.

The corporate, often known as Trimegah Bangun Persada, raised about $660mn from buyers together with Swiss commodities dealer Glencore and Asian sovereign wealth funds in Indonesia’s largest preliminary public providing to this point this yr.

Nickel is a vital part in electrical car batteries. Jakarta is pushing to develop an end-to-end electrical car provide chain.

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