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Five SOE subsidiaries to hold IPO in 2017: OJK
The Financial Services Authority (OJK) has said it prefers to encourage state-owned enterprise (SOE) subsidiaries to hold an initial public offering (IPO) rather than pushing the parent companies to go public.
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Financial Services Authority (OJK) chair Muliaman Hadad (fourth left), accompanied by deputy commissioner Irwan Lubis (left) and four commissioners: Ilya Avianti (second left), Nurhaida (third left), Rahmat Waluyanto (third right), Firdaus Djaelani (second right), as well as Kusumaningtuti Sandriharmy Soetiono (right), explains 2017's targets during a year-end press conference in Jakarta on Dec. 30. (JP/Anton Hermansyah)
T
he Financial Services Authority (OJK) has said it prefers to encourage state-owned enterprise (SOE) subsidiaries to hold an initial public offering (IPO), rather than pushing the parent companies to go public.
OJK commissioner Nurhaida said the authority had already invited 12 SOE subsidiaries to hold an IPO.
“Of the 12 invitees, five are scheduled to hold an IPO in 2017," said Nurhaida, referring to a statement made by an SOE ministry deputy.
(Read also: More state-owned firms to go public this year: Jokowi)
However, she refused to mention the names of the subsidiaries involved.
Rather than forcing an SOE to hold an IPO, it would be easier for the subsidiaries to do so because they did not have to go through complicated hearings at the House of Representatives, Nurhaida said at the Indonesia Stock Exchange (IDX) building on Tuesday.
During 2016, among 15 newcomers to the IDX, only one SOE subsidiary – Waskita Beton Precast – made it onto the market. The company obtained Rp 5.1 trillion (US$379 million) by selling 40 percent of its shares to the public. (bbn)
