REPUBLIKA.CO.ID, JAKARTA – The Ministry of State-owned Enterprises is preparing two Pertamina subsidiaries for initial public offering (IPO). They are PT Pertagas and PT Pertamina Drilling Services Indonesia.
“Pertagas is better now for IPO,” the Minister of State-owned Enterprises Dahlan Iskan said on Thursday.
Pertagas emerged for the first time this week since government was still preparing PT Pertamina Geothermal Energy (PGE) for IPO. But the government preferred PGE as a joint subsidiary between PT PLN (state electricity company –Ed) and Pertamina.
Yet, the President Director of Pertamina, Karen Agustiawan, ensures that only one of her subsidiaries will undertake IPO this year. “We prepare both of them for IPO. But only one will undertake,” she said.
She could not tell the amount of Pertagas and Pertamina Drilling Services stock released.
The net income of Pertamina in 2012 mainly comes from its subsidiaries. In 2011, it reached 25.01 trillion IDR.
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