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Indonesian auto distributor Mitra plans $206 mln IPO in May

JAKARTA, April 26 (Reuters) - Indonesian automotive distributor PT Mitra Pinasthika Mustika, plans to raise up to 2 trillion rupiah ($206 million) in an initial public offering next month, underwriters said on Friday.

Mitra Pinasthika, controlled by private equity firm Saratoga Investama Sedaya, is offering 1.015 billion shares, equivalent to 28 percent of its equity. It set an IPO price range of 1,500-2,000 rupiah a share.

Morgan Stanley, Indopremier Securities and Deutsche Securities Indonesia are the IPO underwriters. The listing date will be May 29.

Saratoga owns shares in several Indonesian companies, such as miner PT Adaro Energy and tower operator PT Tower Bersama Infrastructure. The firm aims to raise more than $1 billion from initial public offerings this year.