JAKARTA. PT Bank DKI, a Regional Owned Enterprise (BUMD) owned by the Provincial Government of DKI Jakarta, is reportedly eyeing an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

In preparation for the IPO, Bank DKI is working with PT BCA Sekuritas and PT CIMB Niaga Sekuritas Indonesia, according to a Bloomberg source with knowledge of the plan. "PT Mirae Asset Sekuritas Indonesia and PT Sucor Sekuritas are also advisors to Bank DKI regarding the sale of these shares," said an unnamed source from Bloomberg.

Bank DKI's IPO plan is said to be still in the early stages. From BCA Sekuritas to Sucor Sekuritas, they did not respond to this news. However, Bank DKI's IPO plan is expected to bring in fresh funds of up to IDR 3 trillion.

Previously, PT Bank Pembangunan Daerah Sumatra Utara Tbk (BSMT) had also carried out an IPO book building. In the prospectus presented, BSMT will release 2.93 billion of its shares to the public.

Meanwhile Fidri Arnaldy, President Director of Bank DKI, admitted that his party was looking for the right momentum before going into the stock exchange, as quoted by Bisnis Indonesia. "The market conditions were uncertain, at that time many people entered the market, when they entered the position actually dropped, this is what we have to read and pay attention to," explained Arnaldy. (KR/LM)