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10 Subsidiaries of SOEs to Go Public Next Year
Thursday, 09 November, 2017 | 20:36 WIB
10 Subsidiaries of SOEs to Go Public Next Year

TEMPO.CO, Jakarta - The State-owned Enterprises (SOE) Ministry announced that about ten subsidiaries of state-owned firms will conduct initial public offerings (IPO) in 2018.

“There are about ten companies. This year, four SOE subsidiaries have conducted [and will conduct] IPOs,” Aloysius Kiik Ro, SOE Ministry’s deputy of business restructuring and development, said in Jakarta on Thursday, November 9.

However, Aloysius refused to name SOE subsidiaries that will conduct IPOs next year. He revealed that the companies are still preparing their budget and work plans (RKAP).

Aloysius said that four companies conducting IPOs this year are PT Garuda Maintenance Facility Aero Asia (GMFI), PT PP Presisi, PT Wika Gedung, and PT Jasa Armada Indonesia (JAI). GMFI has been officially listed on the Indonesia Stock Exchange (IDX) since October 10, 2017.

“PT PP Presisi will be listed [at the IDX] soon. After that, Wika Gedung and JAI [will follow],” he said.

Earlier, IDX company assessment director Samsul Hidayat said the IDX will continue to encourage SOEs and their subsidiaries to conduct IPOs.

“We highly recommend SOEs and their subsidiaries to raise funds in the capital market. By going public, SOEs are expected to be independent in finding fund sources, instead of depending on the government,” Samsul suggested.



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