IPO pipeline builds

摘要

Indonesia's IPO pipeline is gathering steam with US$2.17bn of deals planned for launch by the end of November, even though sentiment has been dented by losses on the country's largest float, the listing of e-commerce company Bukalapak in July. Tower leasing company DAYAMITRA TELEKOMUNIKASI and CISARUA MOUNTAIN DAIRY (Cimory) have completed pre-marketing for respective US$1bn and US$200m-$300m IPOs. Indonesia's biggest bauxite and alumina producer,CITA MINERAL INVESTINDO, is planning to open books for a US$100m-$120m re-IPO as early this month, while paint company AVIA AVIAN has started pre-marketing a US$500m-$750m IPO and is aiming at a November launch. An improving economic outlook fuelled by a rebound in commodity prices and a decrease in Covid-19 cases is encouraging issuers to come forward.