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Factsheet $NCKL: A QUESTION OF VALUE
This factsheet by Trend Asia criticizes the April 2023 Initial Public Offering (IPO) of PT Trimegah Bangun Persada Tbk (NCKL), a subsidiary of the Harita Group. The document alleges that the IPO funds will exacerbate environmental destruction, social displacement, and labor safety violations associated with the group's nickel smelting operations on Obi Island, North Maluku. It further claims that the involvement of various international investors and underwriters contradicts their public commitments to the Paris Agreement and net-zero emissions targets.
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Document type: Fact sheet
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