Tuesday, 17th October 2017

PLN Batam ready for IPO this year

30th May 2012 | 2.111 Views
PLN Batam ready for IPO this year
Dahlan Iskan. (ANTARA)
Jakarta (ANTARA News) - State power company PT Perusahaan Listrik Negara (PLN)`s office in Batam plans to make an initial public offering of its shares this year.

"It is the subsidiary of PLN, namely PLN Batam and not PT PLN Enjiniring, which is the most prepared for IPO," State Enterprises Minister Dahlan Iskan said here on Wednesday.

He said the plan for IPO had secured approval from shareholder, namely the State Enterprises Ministry.

The management of PLN had evaluated all of its subsidiaries to know which of them was ready to float their shares to the public, he said.

Based on the evaluation, it was PLN office in Batam which was the most prepared for IPO, he said.

However, he stopped short of revealing when the IPO would materialize and how many shares would be offered.

"We don`t want to meddle in the business," he said.