Indonesian property firm Puradelta cuts IPO size to 1 trln rupiah-IFR

May 15 Indonesian industrial estate developer PT Puradelta Lestari cut its initial public offering size to 1 trillion rupiah from 3.8 trillion rupiah due to weak stock market condition, IFR reported.

The company, a unit of Singapore-listed Sinarmas Land Ltd , sold around 4.8 billion shares at 210 rupiah per share. It had previously planned to sell 10.8 billion shares in a price range of 210-350 rupiah. (Reporting by S. Anuradha of IFR; Writing by Fransiska Nangoy; Editing by Subhranshu Sahu)

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