He hoped Newmont and other mining companies operating in Indonesia could immediately conduct initial stock offering so that the capital market would be wider.
Jakarta (ANTARA News) - Finance Minister Agus Martowardojo urged PT Newmont Nusa Tenggara to immediately be listed on the Indonesia capital market so that the management of the company that operates in extractive industry could be more transparent.

"So it must not be allowed to operates as it likes just because it belongs to the local and central governments. The Bapepam (capital market supervisory agency) must really maintain its good standards before the company would really conduct initial public offering," he said here on Thursday.

He hoped Newmont and other mining companies operating in Indonesia could immediately conduct initial stock offering so that the capital market would be wider.

"We hope it could be implemented immediately but we also wish for a good quality so that our capital market which is now not too deep and not too wide would be wider as the participation of a mining company in the market would certainly be followed by others`," he said.

Regarding Newmont`s divestment the minister said he hoped the public would give its support because the seven percent shares divested represents the whole people of Indonesia belongs which is mentioned in the constitution`s mandate.

He said the decision for the Government Investment Center to take over the divested shares had been final.

"The regional governments have already held 24 percent shares. The seven percent shares taken by the central government represent 240 million Indonesian population. We live within a state and for the goodness of the extractive industry in the future there must be a combination of central and regional ownership," he said.

The minister assured that the central government purchased the seven percent divestment shares with a good intention and would manage the company based on good corporate governance.

"You just support first so that the Indonesian people understand that it is the central government not a state enterprise that participates with honesty and that would take 100 percent efforts to maintain its integrity," he said.(*)

Editor: Heru Purwanto
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