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10 SOE subsidiaries ready for IPOs next year
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State-owned Enterprises Minister Rini Soemarno. (JP/Wendra Ajistyatama)
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)
