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CATL-backed Merdeka soars in Indonesia market debut

CATL-backed nickel producer PT Merdeka Battery Materials surged on its first day of trading on the Indonesia Stock Exchange as the country’s battery hub plans continue to attract interest.

CATL-backed Merdeka soars in Indonesia market debut CATL-backed Merdeka soars in Indonesia market debut CATL-backed Merdeka soars in Indonesia market debut CATL-backed Merdeka soars in Indonesia market debut CATL-backed Merdeka soars in Indonesia market debut

RKEF smelters

The initial public offering for the Merdeka Copper Gold subsidiary raised Rp9.24 trillion (US$622.12 million).

It was priced at Rp795 per share and saw a total of 11.