Had Plans To Release Shares To The Public, Pelindo Decided To Postpone Until It Needs A Big Budget

Pelindo President Director Arif Suhartono. (Photo: VOI/Mary Handayani)

JAKARTA - PT Pelabuhan Indonesia (Persero) or Pelindo turned out to be one of the SOEs that plans to release shares to the public through the Initial Public Offering (IPO) mechanism. However, this plan has not been realized.

Pelindo President Director Arif Suhartono said the IPO would be carried out if the company had a business plan or needed a large budget.

"The IPO plan for 2019-2020 was before the merger. Of course, after the merger, there were many changes. Of course, we are not going that way (IPO). to obtain funds is an IPO," he said at a media gathering at the Maritime Museum, Jakarta, Thursday 19 May.

Furthermore, Arif explained that after Pelindo merged, Pelindo had a large budget. The source of funding comes from Pelindo I-IV assets which are combined in the Port BUMN Holding.

Therefore, according to Arif, the Pelindo Group has no plans to conduct an IPO for its subsidiaries. "Alhamdulillah, we have big funds and at this time we are still not getting there," he said.

Previously, in May 2021, Arif had revealed that each subholding had plans to go public in the capital market. The four subholdings are containers, non-containers, marine equipment, and logistics.

However, prior to the merger, Arif decided to postpone the initial public offering plan of his two subsidiaries, PT Pelabuhan Tanjung Priok (PTP) and PT IPC Terminal Petikemas (IPC TPK). This was because at that time the condition of the capital market was not stable.

Nevertheless, Arif said that the company would again revise the strategic plan. However, what is certain is that the IPO will be postponed for an undetermined time.