Bareksa.com - PT Puradelta Lestari, the Indonesian industrial property unit of Singapore-listed Sinarmas Land Ltd, plans to raise up to $200 million in an initial public offering in Jakarta, according to a term sheet for the deal seen by Reuters on Monday.

The developer of industrial parks will offer up to 10.8 billion new shares, with 60 percent of the funds from the IPO going to investments in infrastructure and 30 percent to buy new land, the terms showed.

Macquarie, Sinarmas Sekuritas and CLSA will act as domestic lead managers for the IPO. Citigroup, Macquarie, Nomura and CLSA also working as joint bookrunners for the international portion of the deal.

The company is slated to set a price range for the IPO on May 4, with a roadshow slated to start the following day. (Source: Reuters)