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.
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Steel Pipe's products find their way into everything from bicycles and street lamps to airports and bridges
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<div style="text-align: left;"> Steel Pipe's products find their way into everything from bicycles and street lamps to airports and bridges </div>

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 for February 22.

The deal drew strong demand from both domestic and international investors. The buyers included a good mix of domestic pension funds and insurers, as well as international long-only funds...

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