What Is Pertamina Geothermal Energy's IPO Scenario?

By Editorial Team 14/01/2022
initial public offering
Summary

Deputy Minister of State-Owned Enterprises (BUMN) II Pahala Nugraha Mansury revealed that the ministry would conduct an Initial Public Offering (IPO) of PT Pertamina Geothermal Energy (PGE) on the Indonesia Stock Exchange (IDX), expectedly occur in the first half of 2022.

"The target is doing it in the first half of 2022 and registering in March. The IPO may be in June," Pahala said on Wednesday. The IPO aims to secure around US$400 million-US$500 million or Rp 5.72 trillion-Rp 7.15 trillion (exchange rate of Rp 14,300 per US dollar). PGE's IPO is important because Indonesia needs a large amount of funds to develop renewables (EBT). In the government's roadmap, the NRE portion is ​​expected to reach 23 percent of the country's energy mix by 2025 and 31 percent by 2030. These targets can be achieved through the use of up to 20 gigawatts (GW) of renewables by 2030.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.