newsLatham & Watkins and Assegaf Hamzah & Partners have advised Indonesian nickel producer PT Merdeka Battery Materials on its 8.75 trillion-rupiah ($586.46 million) IPO on the Indonesia Stock Exchange, with Linklaters acting for underwriters.

This is Indonesia’s second-largest IPO in 2023 so far, coming just days after the $670 million listing of PT Trimegah Bangun Persada, or Harita Nickel, which was advised by Witara Cakra Advocates.

Global demand for nickel had been increasing steadily for more than a decade, but with the ongoing electric vehicle (EV) boom, the demand is set to continue increasing. Nickel is a key component of EV batteries.

The Linklaters team was led by Amit Singh, partner and head of the firm’s South and Southeast Asia capital markets practice.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Deals

SAM, CAM, AZB, Sidley act on India’s largest IPO in 2023

by Mari Iwata |

Shardul Amarchand Mangaldas & Co. has advised Indian pharmaceutical company Mankind Pharma on its 43.26-billion-rupees ($527 million) IPO on the Bombay Stock Exchange and National Stock Exchange, with Cyril Amarchand Mangaldas and Sidley Austin acting for the bookrunning lead managers.

Deals

Latham, AHP, Links advise on Merdeka Battery’s $586 mln IPO on IDX

by Mari Iwata |

Latham & Watkins and Assegaf Hamzah & Partners have advised Indonesian nickel producer PT Merdeka Battery Materials on its 8.75 trillion-rupiah ($586.46 million) IPO on the Indonesia Stock Exchange, with Linklaters acting for underwriters.

Deals

Davis Polk, Cleary lead on HK’s biggest IPO this year

by Mari Iwata |

Davis Polk & Wardwell and King & Wood Mallesons are advising Chinese liquor company ZJLD Group on its planned $812 million IPO on the Stock Exchange of Hong Kong, with Cleary Gottlieb Steen & Hamilton and Haiwen & Partners acting for the underwriters.