JAKARTA Jan 30 Indonesia has approved plans for
initial public offerings for two state-owned plantation firms
this year, Coordinating Economic Minister Hatta Rajasa said on
The firms are PT Perkebunan Nusantara V (PTPN 5) and PT
Perkebunan Nusantara VII (PTPN 7), which produce commodities
including sugar, palm oil and rubber.
The planned IPOs will not happen before the formation a
holding company for the plantation firms, part of the
State-Owned Enterprise Ministry's grand strategy, Rajasa told
Last November, PTPN 7 said it aimed to sell a 30 percent
stake via an initial public offering, worth up to 2 trillion
rupiah ($164.41 million) in the second half of this year.
($1 = 12165 rupiah)
(Reporting by Andjarsari Paramaditha; Editing by Anthony