20 Dec 2021

PT Avia Avian Tbk’s Initial public offering

Partners Bono Daru Adji and Intan Paramita from Assegaf Hamzah & Partners acted as the Indonesian legal adviser in the IPO of one of Indonesia's largest paint producers, PT Avia Avian Tbk., which raised approximately IDR 5.766 trillion (approximately USD404 million). This is the biggest IPO in Asia by a paint manufacturer. The firm advised Morgan Stanley Asia (Singapore) Pte.; UBS AG (Singapore Branch); Credit Suisse (Singapore) Ltd.; DBS Bank Ltd., (as the International Selling Agents) and PT Mandiri Sekuritas; PT Morgan Stanley Sekuritas Indonesia; PT Credit Suisse Sekuritas Indonesia (as the Underwriters), in reliance on Regulation S/144A under the US Securities Act of 1933.