ADRO - Adaro Andalan Indonesia (AADI) launches E-IPO with competitive valuation

ADRO - Adaro Andalan Indonesia (AADI) launches E-IPO with competitive valuation Adaro Andalan Indonesia (AADI), a spin-off from ADRO specializing in the thermal coal sector, has announced its E-IPO with the ticker AADI. The offering details are as follows: - Book Building Period: November 12, 2024 - November 18, 2024 - Book Building Price Range: IDR 4,590 - IDR 5,900 per share - Shares Offered: 7,786,892 lots (Source : E-IPO) Comment : Assuming a USD/IDR exchange rate of IDR 15,690, the valuation is estimated with a P/E ratio of 2.45x - 3.21x. We await further details to provide a comprehensive analysis.