Jiwasraya, PTPN Ready to Go Public

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  • TEMPO.CO, Jakarta - SOE Minister Dahlan Iskan said that two state companies are ready to hold initial public offerings (IPO) next year. Insurance company PT Asuransi Jiwasraya (Persero) and plantation company PT Perkebunan Nusantara (Persero) VII—also known as PTPN VII—are planning to list their shares on the Indonesia Stock Exchange (IDX).

    Jiwasraya's readiness is based its success in settling their Rp7.6 trillion loan. "Jiwasraya can be regarded as one of Indonesia's most independent state enterprises today," Dahlan said in Jakarta last week.

    Jiwasraya president director Hendrisman Rahim said the company is targeting to have a premium of Rp7 trillion this year. As of December 2013, Jiwasraya's premium reserve value Jiwasraya reached Rp15.04 trillion, an increase from 2012's Rp7.04 trillion.

    Meanwhile, (PTPN) VII has been planning to go public for several years now. In the past, the plan was held back by issue of a plantation holding formation that the government mulled. Now that President Susilo Bambang Yudhoyono has issued the principal issue on plantation holding on August 7, 2014, PTPN is ready to offer shares to the public.