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Kimia Farma prepares its subsidiary for IPO
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A man purchases products at a Kimia Farma pharmacy. (Tribunnews/Tribunnews)
S
tate-run pharmaceutical firm Kimia Farma has planned to prepare one of its subsidiaries to launch an initial public offering (IPO) in the near future with the objective to get a source of funds to expand its business.
Kimia Farma business development director Pujianto said that among six subsidiaries owned by the company, Kimia Farma Apotek is targeted to be listed on the bourse first due to its strong performance.
“Kimia Farma Apotek contributes about 40 percent of sales to the holding company,” he said.
(Read also: Kimia Farma Apotek launches online shopping platform)
However, before the IPO can be implemented, the company needs to wait for the completion of the State-Owned Enterprises Ministry’s (SOE) plan to form a holding company in the pharmacy sector, Pujianto said.
Previously, SOE Minister Rini Soemarno planned to form six holding companies operating in different sectors so they could operate more efficiently. However, at present, even the companies in the oil and gas and mining sectors that were expected to be formed last year had not been completed. (bbn)
