Regarding IPO Inalum, Deputy Minister Of BUMN Pahala Mansury: Still Watching Timing

Photo: Doc. Antara

JAKARTA - The state-owned mining company PT Indonesia Asahan Aluminum (Persero) or Inalum Operating is rumored to be conducting an initial public offering or IPO. Currently, Inalum is preparing to separate its business operations or split off with the Mining Industry Holding or MIND ID.

Deputy Minister of BUMN I, Pahala Nugraha Mansury said that in this corporate action, MIND ID as the holding will oversee Inalum. Meanwhile, Inalum itself will carry out operational activities.

"Right now, MIND ID and Inalum are still an institution, which we want to do as well as other holding formation activities. Holding focuses on managing all subholding operational activities. Inalum," he told reporters quoted Thursday, September 22.

Furthermore, Pahala explained that it would be easier to separate the holding above into a new company. So, later operations will remain in the old company. Then, later build a new holding.

Regarding the IPO plan, Pahala confirmed that Inalum has plans to go in that direction. However, Pahala emphasized that this will look at stock market conditions and at the right time.

"We need to see later. There are already many IPOs. I want to. But it depends on how prepared the market is. The current market timing is not too conducive, we will also prepare to enter the market through an IPO. But regarding the timing we need to see," he explained.

For your information, some time ago Inalum was rumored to be conducting an IPO. Meanwhile, the Managing Director of Mining Holding or MIND ID Hendi Prio Santoso admitted that he had obtained approval from the government regarding the split off.