Private airline Lion Air is planning to issue a 30 percent stake in the company in an initial public offering (IPO) in 2012, and expects to raise US$1 billion in fresh funds.
The funds would be used as a reserve, with the company’s business expansion expected to continue to be supported by its internal cash reserves and bank loans, , Lion Air managing director Rusdi Kirana said Thursday.
Rusdi said the airline was targeting to conduct the IPO around the second semester of 2012.
“But, we're flexible with the time frame … so it would be in the first quarter of 2013 at the latest,” he said in Jakarta, as quoted by kontan.co.id.
Lion Air is presently 100 percent owned by the Kirana family.
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