PT Semen Baturaja (Persero) is planning to sell 25 per cent of its shares to the public by 2012. “We’ve suggested it before.
We hope to achieve this by the end of the year,” the State-Owned Enterprise Ministry’s strategic and manufacturing industries deputy, Irnanda Laksanawan, said in Jakarta .
The initial public offering (IPO) is expected to reap IDR1trn. The government said it hopes the IPO fund can be utilised to increase production capacity and go toward the construction of a new factory. The total fund required for the construction of the new factory is IDR2.3trn.