KONTAN.CO.ID - JAKARTA. Indonesia aims to launch initial public offerings for the upstream and geothermal units of state firm energy Pertamina next year to fund expansion, a senior government official told parliament on Wednesday. Pertamina Hulu Energi, the upstream unit of Pertamina, is expected to sell a 10% to 15% stake in an IPO next year and had conducted initial "sounding out" of potential investors, deputy state-owned enterprise minister Pahala Mansury told lawmakers. The government also aim to conclude the IPO of Pertamina's geothermal unit in the first quarter of next year after it was delayed due to "less than optimum" market condition this year, Pahala said.
Indonesia Targets IPOs at Two Pertamina Units Next Year
KONTAN.CO.ID - JAKARTA. Indonesia aims to launch initial public offerings for the upstream and geothermal units of state firm energy Pertamina next year to fund expansion, a senior government official told parliament on Wednesday. Pertamina Hulu Energi, the upstream unit of Pertamina, is expected to sell a 10% to 15% stake in an IPO next year and had conducted initial "sounding out" of potential investors, deputy state-owned enterprise minister Pahala Mansury told lawmakers. The government also aim to conclude the IPO of Pertamina's geothermal unit in the first quarter of next year after it was delayed due to "less than optimum" market condition this year, Pahala said.