UPDATE 1-Indonesia developer Puradelta Lestari plans up to $200 mln IPO in Jakarta -term sheet

April 20, 2015 5:24 AM

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HONG KONG, April 20 (Reuters) - PT Puradelta Lestari, the Indonesian industrial property unit of Singapore-listed Sinarmas Land Ltd, plans to raise up to $200 million in an initial public offering in Jakarta, according to a term sheet for the deal seen by Reuters on Monday.

The developer of industrial parks will offer up to 10.8 billion new shares, with 60 percent of the funds from the IPO going to investments in infrastructure and 30 percent to buy new land, the terms showed.

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