Lion Air said to put $500m IPO on hold as global stock markets plunge

Lion Air said to put $500m IPO on hold as global stock markets plunge

FILE PHOTO: A Lion Air Boeing 737 MAX 8 jet on the tarmac of Soekarno Hatta International airport near Jakarta, Indonesia, March 15, 2019. REUTERS/Willy Kurniawan/File Photo

Indonesia’s Lion Air has deferred plans for an initial public offering (IPO) due to a sharp fall in global stock markets, people close to the matter said on Friday, as the spreading coronavirus sparks worries of a global pandemic.