BY ALISON TUDOR

HONG KONG—Indonesian conglomerate Lippo Group is seeking to capitalize on surging valuations for companies in the country by selling its listed cable television and Internet business, said people familiar with the matter.

Bidders have been told to lodge their offers with Lippo’s advisor on the sale, Bank of America Merrill Lynch, by the end of Monday.

U.S. and European companies are seeking to boost revenues by investing in fast-growing markets such as Indonesia, where the economy is expected to grow by around 6% this year after a similar expansion in 2010. The benchmark stock index rose 46% last year and …