Danantara: Pupuk Indonesia, Pelindo, and Angkasa Pura Have IPO Potential - BCA Sekuritas

The Chief Operating Officer of the Daya Anagata Nusantara Investment Management Agency (Danantara Indonesia), Dony Oskaria, has stated that many state-owned enterprises (BUMN) are suitable candidates for an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI). He noted that companies and holding groups such as PT Pegadaian, PT Pupuk Indonesia, PT Pelabuhan Indonesia (Pelindo), and PT Angkasa Pura Indonesia (InJourney Airports) possess significant potential to be brought to the capital market. “We have many good BUMN companies, there is still Pegadaian, Pupuk Indonesia, and many more, there is Pelindo, there is Angkasa Pura, and many other companies that have good market capitalisation to be listed for an IPO,” Dony told journalists at the Ministry of Finance office in Jakarta. Dony explained that the IPO plans for these state-owned enterprises are included in the BUMN transformation roadmap for the next five years. “So we will decide which ones will pursue strategic partnerships, which ones will go for an IPO, and which ones will remain private, and we will discuss this further with the Ministry of Finance, with the directive being as state assets. Finally, we will set even higher potential targets,” Dony said. He detailed that the BUMN transformation roadmap will encompass vision and mission development, consolidation and restructuring in the first year, followed by people development and corporate culture in the second year. The third year will focus on innovation in technology and Artificial Intelligence (AI), the fourth on value creation, and the fifth year will target profit growth. Dony stated that the IPO initiatives for state-owned enterprises will be one of the efforts to drive national economic growth. Furthermore, he added, this step will also deepen the Indonesian capital market, given the increasing number of companies listed on the BEI. “For economic growth, there will be many IPOs later. So that in our capital market, there are more companies, and many of our good companies will soon go public,” Dony said.