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Semen Baturaja Plans IPO by 2012
TEMPO Interactive, Jakarta:PT Semen Baturaja (Persero) is planning to sell 25 percent of its shares to the public by 2012.
“We’ve suggested it before. We hope to achieve this by the end of the year,” the State-Owned Enterprise Ministry’s strategic and manufacturing industries deputy, Irnanda Laksanawan, said in Jakarta yesterday.
The initial public offering (IPO) is expected to reap Rp1 trillion. The government said it hopes the IPO fund can be utilized to increase production capacity and go toward the construction of a new factory.
The total fund required for the construction of the new factory is Rp2.3 trillion.
EVANA DEWI