How Would PT Pupuk Kaltim IPO Fare in 2023?

By Editorial Team 06/12/2022
initial public offering
Summary

PT Pupuk Kalimantan Timur or Pupuk Kaltim will hold an initial public offering (IPO) on the Indonesia Stock Exchange in 2023. State-Owned Enterprises (BUMN) deputy minister Pahala Mansury said it would be possible due to the company's relatively high net profit. "We are currently processing it and will do it at the right time," he said on Monday.

Meanwhile, Pupuk Kaltim president director Rahmad Pribadi revealed that the IPO plan was currently being reviewed. "Our job is to prepare. If one day the SOEs Ministry tasks us to hold an IPO, we will ensure that the performance stays good," he said. Besides, President Joko Widodo wants Pupuk Kaltim to produce cheaper fertilizers to strengthen Indonesia's food security. "We plan to increase the production capacity and encourage efficiency so that our production costs can be competitive," Rahmad said.

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