Indonesian Billionaire Seeks $229 Million in Renewables IPO

PT Barito Renewables Energy, owned by Indonesian billionaire Prajogo Pangestu, is seeking as much as 3.51 trillion rupiah ($229 million) in an initial public offering next month.

The company, owned by Pangestu’s energy firm PT Barito Pacific, plans to offer as many as 4.5 billion new shares, representing a 3.35% stake, at 670 to 780 rupiah apiece on Oct. 2-4, according to a prospectus published on Friday.

The new listing adds to a busy year of share debuts in Indonesia, so far the biggest IPO market in Asia outside mainland China this year, according to data complied by ...