Prodia diagnoses healthy markets with IPO launch

Indonesia's largest diagnostics company launches its flotation on schedule as equity markets remain buoyant following Donald Trump's unexpected election success.

PT Prodia Widyahusada TBk launched a $113 million to $144 million initial public offering on Thursday, confident that rising Asian equity markets combined with a smallish issue size and fast growing industry dynamics will underpin the deal's success.

Bankers said the 234.475 million share offering had already been covered by anchor accounts prior to launch and their view had not been affected by the outcome of the US presidential election and any volatility, which may ensue. 

This is a structural growth story and long-term play for fundamental investors who've done their bottom-up analysis rather than pure macro players, said one. 

Prodia runs...

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