10 SOE subsidiaries ready for IPOs next year
The Jakarta Post
The State-Owned Enterprises Ministry will list 10 subsidiaries of state-owned enterprises on the stock market next year.
An SOE Ministry official in charge of business restructuring and development, Aloysius Kiik Ro, said initial public offerings (IPOs) had been planned for this year but had to be delayed as preparation was taking longer than anticipated.
He said the ministry was preparing the companies’ finances and work plans.Read also: Five SOE subsidiaries to hold IPO in 2017: OJK
“I'm collecting data from relevant officials in the ministry on which companies are ready for IPOs,” Aloysius, adding that the companies operated in the property sector.
He said the IPOs would start in the first quarter of 2018 and finish in the fourth quarter.
Kontan.co.id reported that SOE subsidiaries that went public this year included PT PP Energi, a subsidiary of PT PP, PT PP Urban, a subsidiary of PT PP; PT Tugu Pratama Indonesia, a subsidiary of Pertamina; PT HK Realtindo, a subsidiary of PT Hutama Karya; and PT Wika Realty, a subsidiary of PT Wijaya Karya.
Meanwhile, it reported that companies that would hold IPOs in 2018 were PT Patra Jasa, a subsidiary of Pertamina; PT Adhi Persada Gedung, a subsidiary of PT Adhi Karya; and PT Waskita Toll Road, a subsidiary of PT Waskita Karya. (bbn)
- Seoul Fashion Week ready for kickoff
- Movie star Chow Yun-fat to give entire fortune to charity
- Lippo Group executive arrested in Meikarta bribery case
- Washington diocese names 31 former clergy accused of abuse
- Indonesia warns against Australia’s possible embassy move to Jerusalem
- Man arrested for buying baby via Instagram
- NTT to move immigrants to island near Australia
- IMF chief postpones Middle East trip with Saudi stop
- For the sake of integrity
- Police on high alert ahead of Indian temple opening to women