PTPN Boss Regarding PalmCo IPO: Wait For Prabowo-Gibran's Policy

JAKARTA - President Director of PTPN III Plantation BUMN Holding, Abdul Ghani, said PalmCo's initial public offering (IPO) still had to wait for the government's policy of Prabowo Subianto-Gibran Rakabuming Raka.

As is known, the subholding of PTPN III which is engaged in the palm oil sector, namely PalmCo, has not been listed on the Indonesia Stock Exchange (IDX). In fact, PalmCo was originally planned to conduct an IPO at the end of 2023.

"Of course we will listen to future government policies (Prabowo-Gibran)," said Ghani after a discussion on Strengthening SOEs Towards Golden Indonesia in Sarinah, Jakarta, Monday, September 23.

In addition, Ghani emphasized that the initial offering of his subsidiary must also wait for the blessing of the DPR RI. This is because PTPN has the status of a state-owned company.

"Only that is the policy that we must consult with the DPR as well," he explained.

From an internal point of view, continued Ghani, PalmCo is ready to conduct an initial share offer on the IDX. This readiness is supported by various studies or analysis conducted by the company to be able to conduct an IPO.

"Yes, I have. Actually, if the feasibility level is feasible," said Ghani.

Currently, Ghani said, PalmCo has also become one of the largest palm oil plantation companies in the world.

Therefore, Ghani admitted that his party had considered the ability to subhold PTPN for IPO.

"If it's an oil palm story, we are the largest producer in the world, you know, make no mistake. So our largest plantation company in the world, especially since there is a PalmCo reorganization, palm oil. At the end of last year we integrated several subsidiaries into three entities," he said.