CNGR Advanced Material Co.,Ltd. (SZSE:300919) is weighing an initial public offering of Indonesian assets as soon as the end of 2024, according to people familiar with the matter. The Shenzhen-listed company is in talks with potential financial advisers for a Jakarta IPO that could raise at least $300 million, or as much as $500 million if the market is favorable, the people said. CNGR is in the process of preparing the Indonesian unit ?

which will include its smelter assets in the country ? for listing, one of the people said, asking not to be identified as the information is private.