Indonesia: Evergreen cuts offerings size; Steel Pipe to launch $250 bonds

Publicly-listed yarn maker Evergreen Invesco has cut two-thirds of its original fundraising target, from Rp 30 trillion ($2.2 billion) to Rp 10 trillion ($747.7 million). With that, it appears that Indonesia’s biggest rights issue in five years will not happen this year, at least not by Evergreen. Still, Rp 10 trillion is a bigger-than-average size for shares offerings in the country.