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State-owned Indonesian post firm eyes $156 mln IPO in 2013
December 19, 2012 / 11:03 AM / 5 years ago

State-owned Indonesian post firm eyes $156 mln IPO in 2013

JAKARTA, Dec 19 (Reuters) - PT Pos Indonesia, the country’s biggest postal service firm, aims to raise up to 1.5 trillion rupiah ($156 million) via initial public offering in 2013 to fund expansion.

“The IPO preparation has been started since 2010,” I Ketut Mardjana, Pos Indonesia’s chief executive. told Reuters on Wednesday. “We set the target around one to 1.5 trillion rupiah for the IPO next year.”

The state-owned firm has expanding from its traditional postal business to financial and logistics services as demand for postal services has been declining because of the internet and mobile phones.

The government and parliament need to approve the plan. ($1 = 9,643.5 rupiah) (Reporting by Fathiya Dahrul; Editing by Dan Lalor)

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