Pertamina Geothermal Bags Permit to Hold IPO Next Week
Editor
17 February 2023 23:08 WIB
TEMPO.CO, Jakarta - PT Pertamina Geothermal Energy Tbk. (PGE) is ready to hold an initial public offering (IPO) worth Rp9.8 trillion. The company has secured an effective statement from the Financial Services Authority (OJK) to list its shares on the Indonesia Stock Exchange (IDX).
PGE finance director Nelwin Aldriansyah said the IPO will be held from February 20 to 22.
"We will then proceed with listing on the stock exchange floor on February 24, 2023," Nelwin said in an official statement Tempo received on Friday, February 17, 2023.
Listing as PGEO, the company is eyeing an IPO proceeds of up to Rp9.78 trillion from floating 25 percent shares, issued and fully paid capital after the IPO. This is equivalent to a maximum of 10.35 billion common shares with an exercise price of Rp820 to Rp945 per unit.
Nelwin said that most of the proceeds will be allocated for capital expenditure needs.
So far, Indonesia's sovereign wealth fund or Indonesia Investment Authority (INA) has expressed its interest and will take a number of investors to participate in the initial public offering of Pertamina Geothermal Energy shares.
RIRI RAHAYU
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