Danantara Prepares IPO for Several State-Owned Enterprises, Including Pelindo and Pegadaian

The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has revealed plans to list several state-owned enterprises (BUMN) on the Indonesia Stock Exchange (BEI) through initial public offerings (IPOs). Chief Investment Officer Pandu Sjahrir stated that the plan is still in progress and is projected to be a corporate action undertaken in the near future. Pandu mentioned that preparations for the IPO could be a focus within the next 6 to 12 months. Besides opening opportunities for state-owned companies to enter the capital market, this action is expected to increase liquidity in the Indonesian capital market. ‘God willing, we can focus on the next 6 to 12 months. There is also a process later on the exchange. The intention is also to add liquidity to the Indonesian capital market,’ Pandu said when met at the Indonesia Stock Exchange building in Jakarta. Pandu has not yet detailed which companies have been confirmed to conduct an IPO or the exact timing of the execution. He explained that the corporate action process will be carried out through Danantara Aset Manajemen (DAM). Previously, Head of the BUMN Supervisory Board Dony Oskaria, who also serves as Chief Operating Officer of BPI Danantara, revealed that many state-owned enterprises are being prepared for listing. The companies included in the plan come from various sectors, including transportation, logistics, and financing. Dony stated that the companies selected for the IPO are confirmed to have a sufficiently large market capitalisation, a step that can help increase the overall market capitalisation on the Indonesia Stock Exchange. Among the state-owned companies mentioned in the IPO plan are PT Pelabuhan Indonesia (Persero) or Pelindo, PT Pupuk Indonesia (Persero), Angkasa Pura, and PT Pegadaian (Persero).