Jakarta, CNBC Indonesia – The Ministry of State-Owned Enterprises (BUMN) is preparing to conduct an initial public offering (IPO) of two BUMN subsidiaries, namely PT Dayamitra Telekomunikasi (Mitratel) and PT Pertamina Geothermal Energy (PGE).
Deputy Minister of BUMN Pahala Nugraha Mansury said this was part of the IPO plan for 13-14 BUMNs and their subsidiaries for the next four years.
“For 2021 there will be 2, one of which is Mitratel, then PGE and merging with other geothermal companies with PLN and Geo Dipa,” said Pahala in an interview with CNBC Indonesia TV, Wednesday (14/4/2021).
He said, in the framework of this IPO, PGE is currently focusing on consolidating to merge PGE with PT PLN Gas & Geothermal and PT Geo Dipa Energi (Persero) prior to the IPO.
This merger will later include uniting geothermal assets both in the management of geothermal working areas or geothermal plants.
“Those two are the focus this year,” he added.
He said that one of these IPOs would later target the proceeds to reach US $ 1 billion or equivalent to Rp. 14.6 trillion (assuming an exchange rate of Rp. 14,600 / US $).
Meanwhile, according to developing news, the IPO of this renewable energy power plant was previously reported to be able to raise funds of at least US $ 500 million or the equivalent of Rp. 7 trillion (assuming an exchange rate of Rp. 14,000 / US $).