Regarding The PHE IPO, Deputy Minister Of SOEs: God Willing, This Year

Deputy Minister of State-Owned Enterprises (BUMN) I Pahala Mansury. (Photo: Doc. Antara)

Deputy Minister of State-Owned Enterprises (BUMN) I Pahala Mansury revealed that the initial public offering (IPO) of PT Pertamina Hulu Energi (PHE) will be realized this year.

"God willing. This year we are still in the process of getting approval from creditors at this time," he told the wartawa written Friday, June 16.

Even so, Palaha has not been able to reveal exactly when this Pertamina subsidiary will be listed on the Indonesia Stock Exchange (IDX). He admitted that he was still waiting for the right time.

According to him, the right time is quite important to get optimal results. Pahala also ensured that there was no cancellation of this year's PHE IPO.

"For PHE we conveyed before, we are waiting for the right timing," he said.

Furthermore, Pahala said that PHE plans to release approximately 5 to 10 percent of the shares in the IPO. However, Pahala did not explain in more detail about the target funds obtained from the corporate action.

(Share loss) between 5 and 10 percent. If the target (of obtaining funds) looks at the market, "he explained.

In addition, Pahala also revealed that the implementation of the PHE IPO did not cooperate with anchor investors or investor anchors.

Furthermore, Pahala said, the IPO structure for the upstream oil and gas subholding of PT Pertamina (Persero) would be different from PT Pertamina Geothermal Energy Tbk (PGEO) which was earlier listed on the IDX by attracting a number of strategic investors.

"There is no anchor, the structure is different (with PGEO) this is really an IPO," he said.