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Two Apindo members to go public this year
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Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani. (tribunnews.com/Seno)
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obby group Indonesian Employers Association (Apindo) said on Tuesday that two of its members - PT Mahkota Group and PT Mandiri Group - will conduct initial public offerings (IPO) this year.
The two companies, among 14,000 members of Apindo, have assets of about Rp 1 trillion (US$70 million), Apindo chairman Hariyadi Sukamdani said.
“The two Apindo members have confirmed their decision to go public. One engages in the palm oil industry and the other in coal mining,” he told reporters at the Indonesia Stock Exchange building.
Mahkota Group said earlier it would hold a mini-expose at the beginning of March.
Hariyadi said about 500 Apindo members have the potential to conduct IPOs, but only 100 companies were ready to list their shares.
“One of the challenges is transparency. Many of our members are family-owned businesses and they are reluctant to go public,” he said. (bbn)
