Metal and mining firm PT Trimegah Bangun Persada is set to debut in Jakarta on Wednesday after raising 10-trillion rupiah ($672-million) in Indonesia’s largest initial public offering this year. The sale attracted high investor demand and sheds light on the country’s electric-vehicle sector.
The company, also known as Harita Nickel, offered about eight-billion shares at 1 250 rupiah apiece. They were sold at the top of a marketed range that started at 1 220 rupiah. Trading is expected to begin at 9:00 a.m. local time.
