PLN CEO wants company to launch IPO

President Director of state-owned electricity firm PLN Nur Pamudji wants the company to go public via initial public offering (IPO) by selling 5 percent shares, report said.

He said that the IPO forms part of a strategy to allow the market to value the company as a benchmark for assessment.

He said that selling more than 5 percent shares will be quite risky considering the company?s huge assets estimated at Rp 500 trillion. Pamudji did not say when the IPO plan would be realized and whether it has been approved by the government. (*)