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SOEs look to capital market for funds
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The trading floor of the Indonesia Stock Exchange. (JP/Wienda Parwitasari)
S
tate-owned enterprises (SOE) are looking to raise funds from the capital market through initial public offerings (IPOs), with the hope of collecting up to Rp 100 trillion (US$7.5 billion).
In the initial phase, at least nine subsidiaries of SOEs will hold IPOs to offer 20 to 25 percent of their shares, the State-Owned Enterprises Ministry's deputy for company restructuring and development, Aloysius Kiik Ro, was quoted as saying on Friday by kontan.co.id.
The firms will hold the IPOs in stages, starting this year with some of them to be conducted in the second and third quarters until 2018.
(Read also: IDX explores ways to lure more SOE units for IPO)
Construction firms will be a priority, followed closely by energy firms.
Other SOEs are set to raise funds through asset securitization. For example, PT Jasa Marga has prepared two assets that will be divested as part of its securitization.
State energy firm PLN has listed its subsidiary PT Indonesia Power in the scheme. (fed/bbn)
