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Jasa Marga prepares the IPO of its subsidiary that manages Trans Java toll road

27 March 2019 06:47

JAKARTA. PT Jasa Marga Tbk (JSMR) is preparing the initial public offering (IPO) plan of its subsidiary that manages the Trans Java toll road.

In 2017, JSMR has formed a subsidiary called PT Jasamarga Transjawa Tol, which acts as a shell company which will oversee all companies that manage the Trans Java toll road section.

Finance Director of JSMR, Donny Arsal said that his party had started the process with the establishment of a shell company. After that, spin-off will be done, then the initial public offering or IPO stage can begin.

"The spin-off will be done at 2020 at the soonest. We are waiting for the right timing. "The Trans Java toll road segment is still new, wait until it gives stable revenue," Donny said when met in Jakarta, Tuesday (26/3). According to Donny, there are at least 14 companies that oversee the Trans Java toll road section. (AM/AR)

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