Govt to divest up to 14% stake in Aneka Tambang
Govt to divest up to 14% stake in Aneka Tambang
JAKARTA (JP): The government plans to further divest up to 14
percent stake in the state owned general mining company PT Aneka
Tambang (Antam) in October either through the stock exchange or
direct placement to strategic investors.
The plan is contained in the new 2000 master plan of state
enterprises launched by the State Minister of Investments and
State Enterprises Development Rozy Munir on Thursday.
Rozy said that the additional divestment of Antam was part of
this year's privatization program aimed at raising some Rp 6.5
trillion (US$750.58 million) in proceeds to help finance the
current state budget.
"The plan is still being processed," he said.
The government currently controls 65 percent of Antam, and the
investing public controls the remaining 35 percent.
The master plan said that nine companies will be up for sale
this year either through an initial public offering (IPO) or a
direct placement.
According to the plan, one of the state owned companies, PT
Kerta Niaga, will be liquidated.
The document didn't state the reason for the liquidation, but
the government has said recently that loss making firms with no
strategic role would be considered for liquidation.
The document said that the other state enterprises included
for sale this year were as follows.
The government will divest between 10-35 percent stake in coal
mining firm PT Tambang Batu Bara Bukit Asam in November. The lead
underwriter is PT Danareksa Securities.
A 10-35 percent IPO of plantation firm PT Perkebunan Nusantara
(PTPN) IV in July. The lead underwriter is Danareksa.
An IPO of 10-49 percent of pharmaceutical firm PT Indo Farma
was held in August. The lead underwriter is PT Bahana Securities.
Fertilizer firm PT Pupuk Kaltim is slated for a privatization
of 10-49 percent in September. The lead underwriter is Danareksa.
Plantation firm PT Perkebunan Nusantara III is in the process
of preparations for a sale in October through a 10-35 percent IPO
or strategic sales. This status is under process.
Airport operator PT Angkasa Pura II, which manages the Jakarta
international airport, will have up to 14 percent sold in July or
August to strategic investors. The lead underwriter is Bahana.
Pharmaceutical firm PT Kimia Farma is scheduled for a 10-35
percent sale in December. The lead underwriter is Danareksa.
Surveyor firm PT Sucofindo is slated for a 15-20 percent
strategic sale in September. The lead underwriter is still being
selected.
The document also said that several other state enterprises
will be included in the waiting list for this year's
privatization program.
This included a further sale of publicly listed tin mining
firm PT Tambang Timah. The government plans to sell all of its
remaining 65 percent stake in the company.
Other companies included telecommunications firm PT Telkom, in
which the government plans to sell up to 14 percent stake in
December. The government currently controls 65 percent of Telkom.
The government also has similar plans for the publicly listed
international telecommunications firm PT Indosat. The government
now owns 65 percent of the company.
Other companies included in the waiting list were retailer PT
Sarinah, hotel and office building company PT Wisma Nusantara,
financial holding of several strategic industries BPIS, and
fertilizer holding company PT PUSRI, hotel and office building
firm PT Perhotelan dan Perkantoran Indonesia, and hotel operator
PT Jakarta International Hotel Development. (rei)