Indonesian media company prices IPO

The scarcity of paper helps to attract interest in Media Nusantera Citra's IPO, but strong company fundamentals and a convincing management team were key to turning interest into orders.

Media Nusantera Citra MNC has priced its initial public offering near the top end of the indicated price range based on strong interest from international investors.

At Rp3.71 trillion $416 million, this is the second largest IPO from Indonesia since the Asian financial crisis after Bank Rakyat IndonesiaƆs $484 million offering in 2003, according to Dealogic data. But while scarcity clearly did play a role in drawing attention to the deal, sources close to the offering say the demand...

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