Sinar Mas has postponed the stake sale of its coal unit PT Golden Energy Mines, The Wall Street Journal reports. The June sale has been rescheduled for August, pushing back a planned $470 million Jakarta IPO to the year end or beginning of next year. The Indonesian company is offloading almost a 40% share in PT Golden Energy Mines. Bids for the offering had crossed $500 million. The short-listed bidders for the deal include Indian firms Tata Power and Coal India.
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