Milbank LLP was awarded the IPO Deal of the Year at the Asian Legal Business Indonesia Law Awards 2023 for its role in advising PT Amman Mineral Internasional Tbk (“Amman Mineral”) on its 10.73 trillion Rupiah (US$713.43 million) initial public offering on the Indonesia Stock Exchange. The transaction is Indonesia’s biggest IPO in 2023, and among the largest in Southeast Asia.
Amman Mineral is the second-largest copper and gold producer in Indonesia, which has had one of the world’s most active IPO markets in 2023. The Milbank deal team was led by partners Giles Kennedy and David Zemans, and included partner Terry O’Donnell and associates Andre Seah and Abril Kang.
Milbank has represented clients on many of the largest IPOs in Indonesia for more than 20 years. The firm’s equity capital markets practice in Asia regularly advises on a broad range of equity financing structures, including IPOs, secondary offerings and registered offerings.
Milbank’s market-leading Indonesia practice has won multiple awards and recognitions. The practice was named Indonesia International Law Firm of the Year at the 2023 Chambers Asia Pacific and Greater China Region Awards for the fifth time in recent years, and also received the Project Finance Deal of the Year at the 2023 Asian Legal Business Southeast Asia Law Awards for its work on the AMIN Copper Smelter Project in Indonesia. The practice also was recognized with a TXF “Perfect 10 Deal of the Year” for its role in advising Korea Trade Insurance Corporation and a consortium of international commercial banks in connection with a US$711 million term loan to a joint venture by LG Energy Solution, Ltd., Hyundai Mobis Co., Ltd., Hyundai Motor Company and Kia Corporation to build an electric vehicle (“EV”) battery cell plant in a new industrial complex in the Karawang region of Indonesia.
The ALB Indonesia Law Awards recognize outstanding performance of private practitioners and in-house teams in Indonesia and around the region. Learn more about the awards here.
