Jakarta, CNBC Indonesia – The subsidiary of PT Telkom Indonesia Tbk (TLKM) in the infrastructure and telecommunications tower sector, PT Dayamitra Telekomunikasi or Mitratel, is preparing to conduct an initial public offering (IPO) on the Indonesia Stock Exchange.
The targeted IPO fund is predicted to reach US $ 1 billion, equivalent to nearly Rp. 15 trillion, to be exact, Rp. 14.5 trillion (exchange rate of Rp. 14,500 / US $).
This estimate was conveyed by Deputy Minister of BUMN Pahala Nugraha Mansury. Pahala emphasized that the IPO was not only carried out by Mitratel with jumbo funds, but also an IPO from a subsidiary of PT Pertamina (Persero), namely PT Pertamina Geothermal Energy (PGE).
This step is part of the IPO plan of 13-14 BUMNs and their subsidiaries for the next 4 years.
“For 2021 there will be two, one of which is Mitratel, then PGE and the merger with other geothermal companies with PLN and Geo Dipa,” said Pahala in an interview with CNBC Indonesia TV, Wednesday (14/4/2021).
He said, in the framework of this IPO, PGE is currently focusing on consolidating to merge PGE with PT PLN Gas & Geothermal and PT Geo Dipa Energi (Persero) prior to the IPO.
This merger will later include uniting geothermal assets both in the management of geothermal working areas or geothermal plants.
“Those two are the focus this year,” he added.
He said that one of these IPOs will target the proceeds to reach US $ 1 billion.
Meanwhile, according to developing news, the IPO of this renewable energy power plant was previously reported to be able to raise funds of at least US $ 500 million or equivalent to Rp.7.25 trillion.
Regarding Mitratel’s IPO, the former President Director of PT Bank Tabungan Negara (Persero) Tbk (BBTN) said this was in line with the increasing needs for data and telecommunication mobility so that this IPO could be used as a stepping stone to obtain company development funds.
“For Mitratel, for example, with the current data needs and the need for data mobility and telecommunications today, it must be developed in the future, we must meet both of them and we must develop the funds obtained from this IPO to optimize the company’s performance in the future,” he said.
If realized, Mitratel’s IPO has the potential to be the biggest. For the record, currently PT Adaro Energy Tbk (ADRO) recorded the largest IPO in 2008, namely Rp. 12.24 trillion, followed by subsidiary PT Indofood Sukses Makmur Tbk (INDF), namely PT Indofood CBP Sukses Makmur Tbk (ICBP) Rp. 6.29 trillion in 2010.
Previously, the Commissioner of the Indonesia Stock Exchange (IDX), Pandu Sjahrir, gave instructions that 2 of the 3 largest digital companies in Indonesia will have an IPO this year. The closest guesses are Gojek and Tokopedia, which are being heavily mentioned.
“Two of the three companies combined, will be the largest IPO history in the history of the republic. In terms of their size, they are tech conglomerates, with related parties we protect the interests of minority public shares. extraordinary and necessary, “said Pandu without mentioning the technology company that will IPO, at the Capital Market Outlook, Monday (22/2/2021).
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