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Bourse boss, govt discuss possible listing of SOEs in IDX
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Indonesia Stock Exchange (IDX) president director Tito Sulistio (center) talks to journalists after a meeting with Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan in Central Jakarta on Thursday. (JP/Prima Wirayani)
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ndonesia Stock Exchange (IDX) president director Tito Sulistio paid a visit to Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan's office in Central Jakarta on Thursday to discuss state-owned enterprises' (SOE) possible listing in the IDX, among other issues.
Tito said he reported the recent update of the local stock market situation, also asking the minister to help encourage more firms to list their shares at the bourse as an effort to boost the country's investment climate.
"One of the things [we talked about] was [SOE] privatization. It's better for the SOEs to raise funds from the capital market instead of proposing PMN [state capital injection]," he told journalists after the meeting.
(Read also: Outlook bright for IDX in 2017)
Tito said he spoke for all companies in general and not just those related to the maritime and mining sectors, among others, which are supervised by the minister.
"Principally, Luhut said yes and promised to have another meeting," Tito said.
He, however, claimed there was no talk about the initial public offering (IPO) plan of gold and copper firm Freeport Indonesia in their meeting.
Freeport Indonesia, an affiliate to US mining giant Freeport-McMoran Inc., has to divest up to 30 percent of its shares as a prerequisite for a renegotiation of a contract with the government that will end in 2021.
Currently, the US entity owns 90.64 percent of Freeport Indonesia's shares while the remainder is owned by the government. (bbn)
