SYDNEY/SINGAPORE : The upstream arm of Indonesia's state energy company Pertamina, Pertamina Hulu Energi, plans to debut on the local bourse in June, after raising at least 20 trillion rupiah ($1.36 billion), two sources with direct knowledge of the matter told Reuters.The June timing of the initial publi
SYDNEY/SINGAPORE : The upstream arm of Indonesia's state energy company Pertamina, Pertamina Hulu Energi, plans to debut on the local bourse in June, after raising at least 20 trillion rupiah , two sources with direct knowledge of the matter told Reuters.
The planned listing of Pertamina Hulu comes amid a drive by the Indonesian government to privatise some state-owned enterprises and to enhance energy security. The last time Indonesia had an IPO of more than $1 billion was in April 2022, with the listing of tech firm GoTo.
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