INDONESIA: CIMB Niaga is exploring an IPO of its Islamic banking unit after its spin-off, as early as 2028, Reuters reported.
CIMB Niaga Syariah is scheduled to operate as a standalone business in May 2026, and could be valued at around US$1 billion at listing, depending on performance and market conditions, sources told Reuters. While the IPO size is yet to be determined, proceeds from the IPO would likely be used to boost capital and fund the bank’s growth and digital investments, but discussions remain preliminary and no final decisions have been made.
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