Indonesia Energy, an onshore Indonesian E&P that operates eight wells, filed on Tuesday with the SEC to raise up to $23 million in an initial public offering.
The Jakarta, Indonesia-based company was incorporated in 2018 as a holding company for WJ Energy, which was founded in 2014. Indonesia Energy booked $6 million in revenue for the 12 months ended December 31, 2018 and plans to list on the NYSE American under the symbol INDO. The company filed confidentially on November 19, 2018. Maxim Group LLC is the sole bookrunner on the deal. No pricing terms were disclosed.
