Avia Avian IPO - Leader in Indonesia paint industry with undemanding v...

Avia Avian is looking to raise up to US$772m in its Indonesia IPO. Avia Avian (AA) is a paint manufacturer and retailer in Indonesia. The company is the market leader in Indonesia’ decorative paint and coating industry with a market share of about 20% based on FY20 revenue, as per Frost & Sullivan (F&S). The company is well-run as evidenced by its resilient revenue amidst the height of pandemic in FY20 and the stable margins over the past four years. It has a vertically integrated business, fr...