ASEAN KEY DESTINATIONS
Four Indonesian enterprises to go public
The government is targeting initial public offerings (IPOs) of at least four state-owned enterprises in 2012.
The enterprises include South Sumatra-based cement producer PT Semen Baturaja and pawnshop operator Perum Pegadaian, State Enterprises Minister Mustafa Abubakar said Wednesday in Jakarta.
The two other companies are PT Tugu Pratama (a subsidiary of state oil firm PT Pertamina) and a subsidiary of state steel firm PT Krakatau Steel, Mustafa added.
“The four companies have a good opportunity for IPOs next year. They’ve made various preparations and are waiting for the right time to enter the market,” the minister said.
“We’re prompting more and more state enterprises to enter the domestic stock market. The momentum is predicted to be good, and IPOs are an opportunity to enhance company performance,” he said as quoted by Antara.
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