The Indonesian Government is planning to IPO four state owned companies in 2023. The percentage of shares that will be offered will range from 10 to 30%.
Four state owned subsidiaries that will IPO in 2023 include pertamina geothermal energy at 20 to 30% Pertamina upstream energy at 10 to 15 % of shares Pupuk Kalimantan Timur which specializes in fertilizer in East Kalimantan at 10 to 15% and palm co which a holding in the palm oil business with ipo shares at 10 to 20%.
