ID :
14663
Sat, 08/02/2008 - 12:29
Auther :
Shortlink :
http://m.oananews.org//node/14663
The shortlink copeid
KRAKATAU STEEL CEO: PRIVATIZATION CONFIRMED IN NOVEMBER
Jakarta, Aug. 2 (ANTARA) - President Director of Pt Krakatau Steel Fazwar Bujang has confirmed the privatization of the company in late November 2008 through an Initial Public Offering (IPO).
"It's confirmed, it will be end of November," Bujang said at the state enterprises ministry here on Friday.
This year the state enterprises ministry has proposed privatization of 11 companies through IPO, but only five are ready to go public, namely PT Krakatau Steel, PT Nusantara Plantation Company (PTPN) III, PTPN IV, and PTPN VII.
State Enterprise Minister Sofyan Djalil also confirmed the planned privatization of state steel plant PT Krakatau Steel.
"Hopefully, it will be on schedule (November), but it depends on the House of Representatives (DPR) which has the authority to allow the privatization," Sofyan Djalil.
The Krakatau Steel management is currently preparing the IPO plan seriously and the stock exchange condition is favorable as the steel industry sector is improving.
"The matter is up to DPR, which is currently on a recess. When the legislators are back, we will request a schedule for the first IPO," the minister said.
The minister, however, could not say exactly how many shares of Krakatau Steel will be offered to the public.
The steel company will likely to offer 40 percent of its shares.
"It's confirmed, it will be end of November," Bujang said at the state enterprises ministry here on Friday.
This year the state enterprises ministry has proposed privatization of 11 companies through IPO, but only five are ready to go public, namely PT Krakatau Steel, PT Nusantara Plantation Company (PTPN) III, PTPN IV, and PTPN VII.
State Enterprise Minister Sofyan Djalil also confirmed the planned privatization of state steel plant PT Krakatau Steel.
"Hopefully, it will be on schedule (November), but it depends on the House of Representatives (DPR) which has the authority to allow the privatization," Sofyan Djalil.
The Krakatau Steel management is currently preparing the IPO plan seriously and the stock exchange condition is favorable as the steel industry sector is improving.
"The matter is up to DPR, which is currently on a recess. When the legislators are back, we will request a schedule for the first IPO," the minister said.
The minister, however, could not say exactly how many shares of Krakatau Steel will be offered to the public.
The steel company will likely to offer 40 percent of its shares.
