Ready To Go To The Stock Exchange, Pupuk Kaltim Waits For The Direction Of The Ministry Of SOEs

Illustration (Photo: Doc. Antara)

JAKARTA - A subsidiary of PT Pupuk Indonesia (Persero), PT Pupuk East Kalimantan or Pupuk Kaltim is ready to record an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

However, they are still waiting for the direction of the Ministry of SOEs.

VP Corporate Communication Pupuk Kaltim Anggono Wijaya said his party had prepared a series of requirements before carrying out the corporate action.

"We are still waiting for directions from the shareholders of Pupuk Indonesia and the Ministry of SOEs. Yesterday we prepared administratively, there are also many operational needs that must be adjusted, if you want an IPO. Now we have prepared everything," said Anggono in a press statement, Wednesday, November 29.

Furthermore, Anggoro admitted that his party had also conveyed it to the financial services authority (OJK) regarding the IPO plan.

Even so, said Anggoro, the IPO will not be carried out this year.

"It's done, for sure. So we have prepared ourselves, we'll just have to wait. When ordered we just run it," he explained.

According to Anggoro, this IPO plan will help companies in terms of funding.

"But actually we have strong company cash flow. So, yes, that is one option. Because we have a lot of development projects, we need funds, right. Well, IPO is one of the options, but actually internally we can still afford it," he said.