The payment app developer, which counts Sumitomo among its investors, is seeking $7.3m in a flotation on the Indonesia Stock Exchange.
Indonesia-based payment technology provider Cashlez is planning to raise Rp 100bn ($7.3m) in an initial public offering that would allow diversified conglomerate Sumitomo Corporation to exit, Investor Daily has reported.
Cashlez’s bookbuilding is scheduled for February 24, and it is set to sell 20% of its shares to the public as part of a flotation on the Indonesia Stock Exchange expected to take place in March.
Founded in 2015, Cashlez has developed a mobile point-of-sale tool that facilitates Bluetooth-based payments…
