Mitra Pinasthika Mustika MPM, the distributor of Honda motorcycles in Indonesia, has raised Rp1.455 trillion $150 million from its initial public offering after fixing the price at the bottom of the indicative range.
MPM is the biggest IPO in Indonesia so far this year, surpassing Steel Pipe Industry’s $88 million offering in February, according to Dealogic. Steel Pipe makes a wide range of steel pipes, tubes and other related products, and supplies the oil and gas, automotive and furniture industries. Indonesia’s largest IPO last year was pay-TV operator MNC Skyvision’s $220 million deal in June, according to the data.
In March this year, private equity...
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