State-Owned Enterprise Transformation Begins, Danantara Confirms Several Companies Ready for IPO

The State-Owned Enterprise (SOE) Supervisory Body (BP BUMN) and the Danantara Investment Management Agency (BPI Danantara) have announced plans to bring several state-owned companies to the Indonesia Stock Exchange (IDX) through initial public offerings (IPOs). The move is part of a long-term strategy for SOE transformation currently being implemented by the government.

BP BUMN Chief Dony Oskaria, who also serves as Chief Operating Officer of BPI Danantara, stated that many state-owned companies are being prepared for the stock market, including those from strategic sectors such as transportation, logistics, and financing. He identified PT Pelabuhan Indonesia (Pelindo), PT Pupuk Indonesia, Angkasa Pura, and PT Pegadaian as among the firms with strong fundamentals and significant market capitalisation that are being readied for public listing.

Oskaria emphasised that the IPOs are not an immediate agenda but rather the final stage of the ongoing SOE transformation process. He noted that the first year of the programme is focused on consolidating and restructuring state-owned enterprises to strengthen their business structures and improve operational efficiency before they are offered to public investors.