Govt to sell 20% stake in IPTN<\/p>\n
JAKARTA (JP): State Minister for Research and Technology B.J.
\nHabibie unveiled here yesterday the government's plan to sell
\naround 20 percent of its shares in the state-owned IPTN aircraft
\nindustry.<\/p>\n
Habibie, also the president of IPTN, said that the aircraft
\nmanufacturer's shares would be sold to foreign airplane
\nmanufacturers through a direct placement arrangement.<\/p>\n
\"The shares will be directly sold to airplane makers
\noverseas,\" he said of the divestment plan.<\/p>\n
The planned sale of stocks through a direct placement
\nprocedure will be more beneficial to IPTN as it will allow them
\nto select all potential buyers, Habibie said.<\/p>\n
\"Selling shares to airplane manufacturers would, for example,
\nnot only bring in fresh funds but also technology,\" he said.<\/p>\n
The planned sale of IPTN's shares is part of the government's
\nprivatization program, which will also include the sale of
\nseveral other major state companies such as PT Telekomunikasi
\nIndonesia, the provider of domestic telephone services, and
\nGaruda Indonesia.<\/p>\n
\"IPTN's privatization will be carried out by the year 2000,\"
\nhe told newsmen before attending a limited cabinet meeting on the
\neconomy.<\/p>\n
The privatization is needed to boost the capital and
\ntechnology capability of the Indonesian aircraft industry, which
\nhe estimates will become one of the world's major producers of
\ncommuter airplanes in the next five years.<\/p>\n
Habibie said that improving the capital structure and updating
\nthe technology of IPTN is crucial if they are to tap the growing
\ndemand for commuter airplanes in the world. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/govt-to-sell-20-stake-in-iptn-1447893297",
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