Lion Air puts $500 million IPO on hold amid global equity market mayhem



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Lion Air puts $500 million IPO on hold amid global equity market mayhem

Lion Air Group, the Jakarta-based Indonesian airline and the second-largest low-cost aviation industry giant in the Southeast Asia with subsidiaries likes of Batik Air, Thai Lion Air, Lion Air Australia and a many more serving 126 destinations across the globe, had been exploring an option to postpone a planned IPO (Initial Public Offering) due to an en masse sell-off stampede in the global equity markets, as a fast-spreading coronavirus outbreak appeared to be turning in to a pandemic, people familiar with the subject-matter had unveiled on Friday, the 28th of February 2020.

In point of fact, a decision on the $500 million IPO of Lion Air Group, the Indonesia’s largest private airlines, was expected at the end of February as the Southeast Asian aviation industry tycoon had told in a presentation to the potential investors earlier this month, nonetheless, two people directly briefed over the issue were quoted saying on Friday (February 28th) on condition of anonymity that the Lion Air IPO, which its management board was preparing to hold earlier on March, would unlikely to take place until the market condition became stabilized.

Nonetheless, while being asked about the issue, the Lion Air group, which has been touting about its IPO for more than five years now, had declined to comment.