PT Amman Mineral Internasional plans Hong Kong listing to raise $1B

One of Indonesia’s largest copper and gold producers is heading to Hong Kong with billion-dollar ambitions. PT Amman Mineral Internasional Tbk, listed on the Indonesia Stock Exchange under the ticker AMMN, has appointed Citic Securities and Morgan Stanley to advise on a secondary listing targeting a minimum of $1 billion in fresh capital. The offering could materialize as early as 2027, giving the company a second public market venue and access to a much deeper pool of international investors. AMMN’s market capitalization sat at roughly $14 billion by mid-2026. From Jakarta to Hong Kong The company debuted on the Indonesia Stock Exchange on July 7, 2023, raising approximately $709 to $715 million in what became Indonesia’s largest IPO that year. That offering was oversubscribed by 13.6 times. Shares have fallen somewhere between 45% and 48% year-to-date by mid-2026. Rising copper prices have offered some relief recently. Hong Kong’s primary market has been on a tear, raising nearly $35 billion in listings year-to-date in 2026. The assets behind the ambition AMMN’s crown jewel is the Batu Hijau mine, located on Sumbawa Island in eastern Indonesia. It ranks as Indonesia’s second-larg...