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Micro-cap E&P Indonesia Energy prices US IPO at $11 high end

December 19, 2019
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Indonesia Energy, an onshore Indonesian E&P that operates eight wells, raised $15 million by offering 1.4 million shares at $11, the high end of the range of $9 to $11, to command a market value of $81 million.

Indonesia Energy plans to list on the NYSE American under the symbol INDO. Aegis Capital Corp. acted as a lead manager on the deal.