Indonesian State owned Geothermal Company, Pertamina Geothermal Energy have officially launched their Initial Public Offering (IPO), in which the company is offering 25% of their shares to the public.
In its IPO, Pertamina Geothermal Energy is offering 10 billion 350 million shares to the public, priced at Rp820 to Rp945 per share. 1,5% of its shares, or over 630 million shares will be kept for their share option program for the company's management and employees.
The President Director of Pertamina Geothermal Energy Ahmad Yuniarto said, that the company is targetting to gather Rp9,78 trillion in funds, which will be used for capital and also paying off the company's debts.
The IPO began on the first of February and will last until Thursday (9/2/2023). Meanwhile, Pertamina Geothermal Energy will be officially listed on the Indonesian stock exchange starting from the 24th of February 2023.