JAKARTA. The President Director of PT Pertamina Geothermal Energy, Ahmad Yuniarto, announced that the Ministry of State-Owned Enterprise (BUMN) is currently processing its initial public offering plan.
According to Yuniarto, the IPO would be held by BUMN holdings in the geothermal sector, including Pertamina Geothermal Energy, PT PLN Gas & Geothermal, and PT Geo Dipa Energi (Persero).
Yunarto also stated that the relevant ministries had set the targets of these initiatives according to the timeline. “We are moving following the defined objectives set by BUMN Ministry,” he added in the webinar, Friday (21/5).
This initial public offering of the said subsidiaries is believed to obtain USD 500 million, equivalent to over IDR 7 trillion, as quoted in Bloomberg. The cited source also mentioned that this IPO would take place in Jakarta no sooner than the end of this year. (AM/ZH)