Steel Pipe Industry prices Indonesia’s first IPO this year

The Indonesian maker of steel pipes attracts strong demand from both domestic and international investors as it aims to raise $88 million.

Steel Pipe Industry prices Indonesia’s first IPO this year

Steel Pipe Industry, Indonesia’s biggest producer of steel pipes by capacity, will raise Rp855.5 billion $88.2 million from its initial public offering after fixing the price below the mid-point of the indicative range.

The deal is the first IPO in Indonesia this year, according to Dealogic. The international roadshow ended on Monday February 4 and will be followed by a retail offer that will run from February 14 to 18. The trading debut is scheduled...

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