Jakarta. Some state-owned enterprises or SOEs are expected to go public at the Indonesia Stock Exchange (IDX) next year, according to Danantara. 

The sovereign wealth fund’s boss Rosan Roeslani admitted Wednesday that work was in motion for the IDX debut.

“We have identified some companies that are ready for an IPO [initial public offering] next year. This is part of our transparency as we wish to improve our accountability,” Rosan told the Investor Daily Summit in Jakarta.

“By having the companies at the bourse, wouldn’t that increase their visibility to the IDX, financial services watchdog OJK, other stakeholders, and even the general public?”

Pressed about the details, Rosan said that they had come from the financial, infrastructure, and mining sectors, but avoided revealing the names.

He went on to say that Danantara will make the final decision on the IPO plans by the year-end. These companies should also possess “the potential, appetite, and likely garner positive responses from the public as well as businesses from home and abroad.”

The last SOE to enter the IDX was Pertamina Geothermal Energy (PGEO), a subsidiary of the oil producer Pertamina, back in 2023.

The exchange currently has 37 publicly listed state firms, including banking giants Mandiri and BNI. 

All SOEs are now under Danantara’s wings, giving the fund power to decide which company is IPO-ready.

The IPO plan comes amidst major corporate restructuring. Indonesia wants to slash the number of its SOEs from around 1,074 to just 250 for better efficiency.

Add as a preferred source on Google +