When Is Pupuk Kaltim IPO? This Is The Explanation Of The Deputy Minister Of BUMN

Deputy Minister of BUMN I Pahala Mansury (Photo: Mery Handayani/VOI)

The Ministry of State-Owned Enterprises (BUMN) stated the latest news regarding the initial public offering (IPO) plan of PT Pupuk Kalimantan Timur (Persero) on the Indonesia Stock Exchange (IDX). Previously, Pupuk Kaltim was targeted to be listed on the IDX in the first semester of 2023.

Deputy Minister of BUMN I, Pahala Nugraha Mansury said that the Pupuk Kaltim IPO plan had not yet been decided. This is because shareholders are still looking at the current dynamics of the capital market.

"We haven't decided yet. Because of the market," said Pahala when met by reporters at the mutual fund Tower, Central Jakarta, Thursday, March 30.

Met separately, President Director of Pupuk Kaltim Rahmad Pribadi said that currently he is still preparing a number of administrative requirements that have been determined by the Financial Services Authority (OJK) and the Exchange Authority.

In line with that, said Rahmad, the company also took various initiatives so that the company's financial performance was maintained until it was officially listed on the IDX.

"This IPO is a shareholder, we are waiting for the government's direction, our job is to prepare it. Preparing it not only with the administrative steps of the IPO, but also to prepare to maintain the best financial performance," he said when met at The Langham Hotel, Jakarta, Wednesday, March 29.

Furthermore, Rahmad said that although IPI is a shareholder funding option to fund the fertilizer industry, Pupuk Kaltim itself still has other alternative financing.

"IPO is one of the funding options but it is not the only option, because Pupuk Kaltim has good financial performance. So we have a lot of options, we will see the government's strategy for funding for the development of the fertilizer industry," he explained.

For your information, PT Pupuk Kalimantan Timur (Persero) successfully pocketed a net profit of IDR 14.59 trillion throughout 2022. This figure is up 137 percent from last year.

This brilliant performance is the result of the company's work in efficiency in production costs in the midst of rising gas prices in Indonesia.