TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) announces that several state-owned enterprises (SOE) subsidiaries will hold an initial public offering (IPO) in 2017.
IDX president director Tito Sulistio yesterday in Jakarta said that the registration process of the IPOs is underway at the Financial Services Authority (OJK). The process is expected to complete soon for their shares to be listed on the IDX.
He said that an IPO process of an SOE subsidiary is easier compared to its parent company. “An SOE will need 25 steps to hold an IPO. It’s easier for its subsidiary,” he said.
Tito added that aside from SOE subsidiaries, a number of private companies are also keen to hold an IPO, including PT Alfa Energi Investama.
Alfa Energi Investama president director Aris Munandar said that the company plans to dispose of around 23 percent of its stake to the public through an IPO with an aim to acquire between Rp125 billion and Rp160 billion.
“The fund generated from the IPO will be used to finance working capital, pay debts and other corporate actions, such as to increase port capacity,” he said.
Alfa Energi Investama is engaged in the field of coal mining in East Kalimantan with a total assets of roughly Rp400 billion.
ANTARA
