Regarding Freeport's IPO Plan, This Is Stock Exchange Boss' Explanation

IDX (Photo: Doc. Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) continues to encourage PT Freeport Indonesia to conduct an initial public offering (IPO). The mining company has long been predicted to go public. However, it has not been realized to date.

Director of the Indonesian Stock Exchange Company (IDX) Assessment, I Gede Nyoman Yetna said that in general, the stock exchange continues to monitor companies that have the potential to list their shares.

Furthermore, Nyoman said the exchange also invited discussions of companies deemed appropriate for the IPO. One of them is PT Freeport Indonesia.

"For example, we and Mandiri securities will explore the potential of decent IPO companies throughout Indonesia. Including Freeport," he told reporters, Friday, July 7.

In this celebration, Nyoman also appreciated the government's success in winning Freeport shares. As is known, Freeport has previously controlled the Grasberg mine in Papua since 1991.

He also hopes that after being controlled by the government, Freeport can be listed on the IDX. This is so that the public can also monitor this mining company.

For your information, Freeport Indonesia is the holder of the Grassberg mining area with reserves of up to 4 billion tons.

Currently, 48.8 percent of Freeport Indonesia's share portion is held by Freeport-Mc Moran Inc, and 51.23 percent is controlled by Inalum.

However, Inalum's direct ownership was 26.2 percent, and 25 percent was held by the Inalum joint venture and the Papuan Regional Government, namely PT Indonesia Papua Metal Mineral.