It will be the second nickel firm in Indonesia to go public this year after PT Trimegah Bangun Persada of the Harita conglomerate group, as the nickel-rich country's ramps up efforts to be a major player in the electric vehicle industry.

The company plans to sell 10.24% shares in the IPO at 780 to 795 rupiah a piece in the offering set for April 12-14. However, an additional 1.01% shares could be issued in case of oversubscription, which could put the value of the IPO at a total of 9.619 trillion rupiah, according to the prospectus reviewed by Reuters.

The firm plans to use proceeds from the IPO to repay $300 million in outstanding loans, on capital expenditure and working capital.

The proceeds will also be used to develop the first phase of a high pressure acid leach (HPAL) plant with a capacity of 60,000 tonnes per year. The company signed an MoU regarding the plant with Ningbo Brunp Contemporary Amperex Co.Ltd earlier this month.

($1 = 15,070.0000 rupiah)

(Reporting by Bernadette Christina; Editing by Kanupriya Kapoor)