ADRO — To spin-off Adro Andalan Indonesia

ADRO — To spin-off Adro Andalan Indonesia Adaro Energy Indonesia (ADRO) has announced plans to spin off its subsidiary, Adaro Andalan Indonesia (AAI), which operates in the thermal coal business. The transaction will involve offering AAI shares to ADRO shareholders under a public offering. The proposed spin-off may involve an initial public offering for AAI, though details are still being finalized. ADRO plans to distribute dividends before the spin-off, potentially enabling shareholders to buy AAI shares. If the IPO proceeds, ADRO could raise significant funds, with potential tax implications from the sale. (Source : Bisnis Indonesia)