Get Ready! PHE Following PGE Took The Floor On The Semester I Exchange This Year

Pertamina President Director Nicke Widyawati (Photo: Doc. Antara)

JAKARTA - President Director of PT Pertamina (Persero) Nicke Widyawati ensures that energy companies under the auspices of PT Pertamina, PT Pertamina Hulu Energi, will follow the steps taken by PT Pertamina Geothermal Energy Tbk (PGEO) on the stock exchange.

Nicke said the IPO of PT Pertamina Hulu Energi will be carried out in the first semester of 2023.

"Yes, the PHE IPO is in the first half of this year," Nicke said in his presentation at a press conference in Jakarta, Friday, February 24.

Nicke added that his party plans to return to conducting an IPO in the energy subholding to accelerate national energy independence.

Moreover, he continued, Indonesia is still importing crude oil from abroad, so it is increasingly burdening the state budget. Therefore, increasing oil capacity is very necessary.

"(Indonesia) is embracing a large investment and that commitment we make today most of our investments go upstream," continued Nicke.

Present on the same occasion, Deputy Minister of SOEs I Pahala Nugraha Mansury said the Ministry of SOEs also continues to encourage state-owned companies and large subsidiaries to conduct IPOs.

Regarding PHE's IPO plan, Pahala said that his party still had to discuss with related parties such as the Indonesia Stock Exchange (IDX) and the Financial Services Authority (OJK). Furthermore, Pahala said that the current PHE IPO is still constrained by a minimum share limit of 10 percent which must be released to the public.

"Indeed, so far with a capitalization value limit of 10 percent, we still need to discuss it. PHE can be seen from its capitalization, if 1 percent is already above the highest value of the IPO," concluded Pahala.