Jakarta-based PT Nusantara Sejahtera Raya, which owns the country’s largest cinema chain, Cinema XXI, is said to raise up to $300 million in its initial public offering (IPO) by early 2024, according to several sources familiar with the matter.

The company is aiming to complete the IPO by early 2024 before the upcoming Indonesian general elections later in the year, the people mentioned above added.

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