He said PT Semen Baturaja plans to offer 25 percent of its shares through an initial public offering.
He said he would submit the plan to an internal meeting with the minister. "We will propose PT Semen Baturaja. The meeting will take place on Sunday. According to plans the IPO will be done in the third quarter. We will also propose PT Waskita Karya and PT Hutama Karya," he said.
Regarding the IPO price of PT Semen Baturaja`s shares Pandu said it would be referred to the minister, hopefully it would not be cheap.
"It would be the minister that would decide the size. The company has a good prospect. So the price must not be set too low," he said.
He said PT Semen Baturaja is expected to raise around Rp1 trillion from the IPO. The company plans to increase its production capacity and market share up to 30 percent.
State-owned airline company PT Garuda Indonesia had gone public recently, following state-owned steel company PT Krakatau Steel.
H-YH/HAJM/H-YH
Editor: Jafar M Sidik
Copyright © ANTARA 2011
