Two Indonesian state-owned firms to tap IPO route to raise over $150m in 2016

Photo by PTPN VII

Two state-owned companies, PT Wijaya Karya Gedung and plantation firm PT Perkebunan Nusantara VII (PTPN VII), are considering to raise funds by launching an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in 2016.

Wika Gedung, a unit of construction firm PT Wijaya Karya Tbk (WIKA) plan to raises Rp1 trillion ($72.46 million) from selling 30 per cent of its expanded shares in the second half of next year, WIKA’s corporate secretary Suradi Wongso said.

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