Pertamina Lubricants plans IPO
Friday, July 22 2016 - 02:56 AM WIB
Lubricants maker PT Pertamina Lubricants, a subsidiary of state-owned oil and gas firm PT Pertamina, is considering to raise funds via an initial public offering (IPO) next year to help finance expansion program, Bisnis Indonesia reported on Friday.
The paper quoted Gigih Wahyu Hari Irianto, President Director of Pertamina Lubricants as saying that the company is currently making preparations to meet the requirements set by the Indonesia Stock Exchange. ?We have that all requirements (for IPO) can already be met in 2017, he said.
He declined to disclose the amount of funds to be raise via the IPO.
He said that the company is currently in the process of searching for strategic partners, both local and overseas, to help in the expansion program. As such, the size of the IPO proceeds will depend on the funds to be committed by the would-be partners. (*)