Home-Improvement Chain Mr DIY’s Indonesian Unit Is Said to Eye IPO in Late 2024
- Retailer is working with banks on a potential Jakarta listing
- IPO proceeds in Indonesia have dropped 90% from a year earlier
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The Indonesian sister company of home-improvement retailer Mr DIY Group (M) Bhd. is considering listing shares in Jakarta as soon as this year or early 2025, according to people familiar with the matter.
Mr DIY Indonesia is working with banks on an initial public offering plan, the people said, asking not to be identified discussing private information. It could seek to raise as much as $300 million, two of the people said, which would give a welcome boost to Indonesia’s lackluster IPO market.