Ministry Of BUMN Ensures Subsidiaries Of Pertamina And Telkom Take The Floor On The Stock Exchange This Year

JAKARTA - The Ministry of State-Owned Enterprises (BUMN) revealed that two state-owned subsidiary companies will take the floor to the Indonesian capital market this year. One of them is PT Pertamina Geothermal (Persero), a subsidiary of PT Pertamina (Persero).

Deputy Minister II of BUMN Kartika Wirjoatmodjo explained that this year's Initial Public Offering (IPO) step is an opportunity for the state company. However, he did not explain further the reasons for Pertamina Geothermal to enter the Indonesia Stock Exchange this year.

Then, Tiko, his nickname, said that another BUMN subsidiary that is ready to take the floor this year is a subsidiary of PT Telkom Indonesia (Persero).

"In 2021, two companies have the opportunity to IPO from the largest Telkom company in Indonesia and also Pertamina Geothermal," he said in a virtual market Outlook themed Establishing Our Sovereignty: To The Next Frontier in Investment, Wednesday, March 10.

Based on information from the Indonesia Stock Exchange (IDX), until March 8, 2021, the two subsidiaries have not entered the IDX share listing pipeline list. At least there will be 8-12 companies that will list their shares on the IDX in the next few years.

Responding to this, Hans Kwee, Director of PT Anugerah Mega Investama, assessed that the IPO plan for state-owned companies is said to be flooded with enthusiasts by Indonesian investors. It was noted that there were two factors that led to the high interest of investors.

"The first factor is that BUMN shares are more trusted by the public. This is usually more desirable. Second, these SOEs are usually better known for their companies and more trustworthy because they have the government," he told reporters.

According to him, state-owned companies that have gone public have the opportunity to have higher sustainability or sustainability, even though some have suffered losses and have not performed well.