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The proceeds from the IPO will be utilized to repay debt owed to Bangkok Bank Pcl and to acquire geothermal power plants in Java. This strategic move is aligned with the company’s operations in the renewable energy sector and strengthens its position as the third-largest global geothermal power producer.
Several entities are associated with PT Barito Renewables Energy’s operations, including Aequitas Research, Pertamina Geothermal Energy, and state utility firm PLN. PT BNI Sekuritas and PT OCBC Sekuritas Indonesia have been named as the underwriters for the IPO.
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