Govt plans to divest another 14 percent stake in Antam

The government is planning to further divest up to 14 percent shares in the publicly listed state owned general mining company PT Aneka Tambang (Antam) in October.

The plan is contained in the new 2000 privatization blueprint launched by the State Minister of Investments and State Enterprises Development Rozy Munir on Thursday.

The government now controls 65 percent of Antam, while the public holds the remaining 35 percent.

The second divestment will be done either through initial public offering or strategic sales.

The divestment is part of this year's privatization program aimed at raising around Rp 6.5 trillion in proceeds to help finance the current state budget. (*)