Indonesian Chemical Giant’s Unit Seeks $145 Million From IPO

An Indonesian petrochemical giant’s unit is seeking to raise 2.37 trillion rupiah ($145 million) from an initial public offering that may become the country’s largest this year.

PT Chandra Daya Investasi, an infrastructure firm that is part of PT Chandra Asri Pacific, plans to offer as much as 12.5 billion shares, or a 10% stake, at 170 rupiah to 190 rupiah each from July 2 to 4, according to a prospectus on Thursday that confirmed an earlier Bloomberg News report.

The company seeks to use 1.5 trillion rupiah of the proceeds to develop port and storage facilities, and ...