PT Softex Indonesia, a sanitary product maker backed by private equity firm CVC Capital Partners, is weighing postponing an Indonesian initial public offering that could raise at least $400 million, people with knowledge of the matter said.
The Tangerang-based firm had planned to start gauging investor demand this month but the spread of the novel coronavirus has jeopardized travel plans, making meetings with prospective investors difficult, the people said. The choppy stock market is also not conducive to a share sale, while Softex needs more time to prepare its financial statements, said the people.
