JAKARTA - PT Medco Energi International Tbk (MEDC) founder Arifin Panigoro has confirmed that the divestment of two of the company’s subsidiaries, PT Medco Power Indonesia (MPI) and PT Amman Mineral Nusa Tenggara (AMNT), will be postponed until next year.
“It’s impossible to do it this year because we only have a couple of months remaining. Everything has been postponed until next year,” said Mr Panigoro after the second National Oil and Gas Workshop held by the Oil and Gas Companies’ Association (Aspermigas) as quoted by Bisnis.com, Thursday (10/10).
In addition, Mr Panigoro also explained that an IPO is only one of the divestment options for the two subsidiaries. He added that Medco is open to other divestment options such as a merger with another company.
“An IPO is one option, but so is backdoor listing. We’re open to the possibility of a merger, or that Medco will be directly involved since we’re already listed [on the Indonesia Stock Exchange],” Mr Panigoro added.
As reported by Bisnis.com, AMNT’s IPO plan has surfaced for awhile. Recently, there was a rumour that AMNT sought US$ 600 million in fresh funds through an IPO. (MS)