MPM hits the road for Indonesian IPO

The distributor of Honda motorcycles in Indonesia, Mitra Pinasthika Mustika MPM, is seeking to raise $150 million to $178 million from an initial public offering with the bookbuilding and management roadshow already underway.

The price range was announced on Friday and the international roadshow, which will take the management to Singapore, Hong Kong and London, kicked off on Monday this week. The order books are expected to close on May 8, with the listing scheduled for May 29.

Even at the lower end of the targeted size, MPM will be the biggest IPO in Indonesia so far this year, surpassing Steel Pipe Industry’s $88 million offering...