PT Cikarang Listrindo, the first IPP in Indonesia, is selling up to US$357m worth of shares. 

• In this insight, I examine its fundamentals, growth drivers, risks and shareholders. 
• Investors should know what are the assumptions for moving parts when comparing valuation to peers.
• Last but not the least, our Smartkarma IPO framework rates the deal at the borderline for participation. 

This Insight is part of Smartkarma. For more follow this link.