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Friday, March 16, 2012 15:03 WIT
Two subsidiaries of Pertamina to go public: Dahlan

Jakarta (IOGNews) - Two subsidiaries of state-owned oil and gas company PT Pertamina, PT Pertagas and PT Pertamina Drilling Services, are preparing to go public this year.br / br / Pertagas and Pertamina Drilling are better prepared than the others to conduct an initial public offering this year, State Enterprises Minister Dahlan Iskan said at his office here on Thursday.br / br / He disclosed that initially Pertamina had prepared PT Pertamina Geothermal Energy (PGE) but the plan was canceled because Pertamina and PLN (state-owned power company) were still trying to make PGE their subsidiary.br / br / Only when it becomes a subsidiary of PLN and Pertamina, will PGE be pushed to seek its own funding through bond issuance.br / br / So, it is Pertagas and not PGE that has been considered better prepared, Dahlan said.br / br / Although Dahlan has revealed the names of Pertamina`s subsidiaries ready to go public this year, Pertamina`s President Director Karen Agustiawan has still not announced them in public.br / br / She admitted that Pertagas and Pertamina Drilling would go public but did not mention when it would happen.br / br / Of the two companies, only one will go public this year. Not both of them, she noted. Karen also did not mention how many shares would be released.br / br / She added, We are still exploring the option, so please wait.(Antara)

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