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Several SOEs will go IPO, some to issue bonds


Photo by Cabinet Secretary

JAKARTA (TheInsiderStories) – President Joko Widodo says government is preparing several state-owned enterprises (SOEs) to go public (IPO) this year. While, some SOEs ready to enter bond markets to raises advantage from capital inflows from repatriate funds.

He declined to elaborate more the list of SOEs prepared to go IPO by saying that he was waiting for the assessment to be concluded before announcing the candidates.

While, some SOEs expressed their interest to issue bonds in this year. CEO of PT Waskita Karya Tbk (IDX: WSKT) Muhammad Choliq, said it plans to issue bonds worth Rp 5 trillion to accommodate the repatriation of funds.

Another construction firm PT PP Tbk (IDX: PTPP) also aims to issue bonds Rp2 trillion in the second half of 2016. Meanwhile, CEO of PT Jasa Marga Tbk (IDX: JSMR) Adityawarman is also interested to raises fund Rp3 trillion from bond market to finance the toll road development.

Earlier, Finance Director of BRI Haru said Koesmahargyo, explained this is the right time to releases bond to the market. The micro lender plans to issue bonds up to Rp20 trillion in two stages,  in the final quarter of 2016 and in the second quarter 2017.

Another bank also looking to raises fund are PT Bank Mandiri Tbk (IDX: BMRI) worth Rp10 trillion and PT Bank Tabungan Negara Tbk (IDX: BBTN) Rp3 trillion in this year. Based on the the same reason, CEO of PT Perusahaan Listrik Negara Sofyan Basir said it was also interested in issuing bonds to absorb the repatriation funds.

According to the government’s figures, SOE total assets amounted to Rp 440 trillion (US$33.7 billion), which could be maximized by listing on the stock market. “We believe the IPOs can be effectively staged this year,” he said.


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Source: The Insiderstories
Several SOEs will go IPO, some to issue bonds

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