Prodia prices IPO to sell on Trump effect

The diagnostics company takes a realistic approach to pricing as foreign investors turn net sellers across Southeast Asia.

Prodia Widyahusada TBK priced its initial public offering just off the bottom of its indicative price range on Friday, acknowledging that primary markets have weakened since Donald Trump became US President-elect.

The Indonesian diagnostics company has been Southeast Asia's first to launch and price an IPO since the US Presidential election wrapped up on November 9. But like Hong Kong's VPower, which also priced its IPO on Friday, Prodia did not try to push pricing too far.

Instead, the company opted for a level that was slightly off bottom of the range at 6,500 per share raising $115 million. It had initially marketed the 234.475 million share...

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