Sudirman CBD in Jakarta, Indonesia (Source: AndrewPrawiro / flickr, Creative Commons)
Pertamina Geothermal Energy has announced the offering schedule and initial price per share of the Indonesian geothermal developer’s IPO.
Indonesia’s state-owned geothermal energy developer Pertamina Geothermal Indonesia (PGE) has announced the relevant details of its forthcoming initial public offering (IPO) on the Indonesian Stock Exchange (IDX). The IPO schedule (in line with the target announced last month) is as follows:
- Initial Offering Period: February 1 – 9, 2023
- Estimated Effective Date: February 16, 2023
- Expected IPO period: February 20-22, 2023
- Expected grant date: February 22, 2023
- Estimated Date of Electronic Share Distribution: February 23, 2023
- Expected listing date on IDX: February 24, 2023
PGE has set an initial price of IDR 820 to IDR 945 per share. PGE has set a maximum of 10.35 billion shares, totaling IDR 8.48 to 9.78 trillion (USD 564.9 to 651.5 million) that PGE can raise with this IPO.
In addition, PGE will allocate a maximum of 1.5%, or 630.39 million shares, to management and employee stock option plans after the IPO.
PGE is one of the largest geothermal companies in the world based on a total installed capacity of 672 MW under direct management and 1205 MW under joint operation contracts. Proceeds from the IPO will help optimize several of PGE’s areas of work as well as the deployment of cogeneration technology such as binary technology with brine, low pressure and primer units.
Source: Bisnis.com
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