(Bloomberg) -- Indonesian metal and mining firm PT Trimegah Bangun Persada is considering pricing its initial public offering at the top of a marketed price range, according to people familiar with the matter.

The company, also known as Harita Nickel, is leaning toward pricing the shares at 1,250 rupiah apiece, said the people, who asked not to be identified as the information is private. Such consideration comes as the order book is well over-subscribed, one of the people said. 

Deliberations are ongoing and no final decision has been made, the people said. A representative for Harita Nickel declined to comment.

Harita Nickel has been marketing as many as 8.1 billion shares at 1,220 to 1,250 rupiah each. Should the IPO be priced at the top of the range, the company will raise as much as 10.1 trillion rupiah ($660 million) and surpass PT Pertamina Geothermal Energy as Indonesia’s biggest this year, according to data compiled by Bloomberg.

Harita operates the country’s first high-pressure acid leaching smelter on Obi island in North Maluku, according to its website. The HPAL process turns the local low-grade ore into mixed hydroxide precipitate — a form of nickel that can be further processed to make batteries. Its HPAL facility has a production capacity of 55,000 tons a year. Next year, a new plant would more than double its output to 120,000 tons.

The company is set to price its offering on Friday with trading slated to start April 12. Credit Suisse Group AG, BNP Paribas SA, Citigroup Inc. and PT Mandiri Sekuritas are joint global coordinators.

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