Indonesia’s Astra International launches re-IPO of Astra Otoparts

The secondary share sale in the automotive component company is expected to raise up to $300 million.

Indonesia’s Astra International launches re-IPO of Astra Otoparts

Astra International, a majority shareholder of Astra Otoparts, started the bookbuilding and management roadshow yesterday for a fully marketed secondary share placement in the Indonesian automotive parts company, aiming to raise between $251 million and $298 million, sources say. The books are expected to close on Tuesday, May 28.

The placement comprises 100% secondary shares, and the proceeds are going to the parent company. It will increase Astra Otoparts’ free-float to about 20% from 4%,...

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