Indonesia Energy, an onshore Indonesian E&P that operates eight wells, announced terms for its US IPO on Tuesday.
The Jakarta, Indonesia-based company plans to raise $15 million by offering 1.5 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Indonesia Energy would command a market value of $75 million.
Indonesia Energy was founded in 2014 and booked $6 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE American under the symbol INDO. Aegis Capital Corp. is the sole bookrunner on the deal, replacing Maxim Group in the most recent filing.
