PT Indonesia Asahan Aluminium (Inalum), a mining company under the Mining Industry Indonesia (MIND ID) holding company, is preparing to conduct its first initial public offering (IPO) on the stock exchange.
Dilo Seno Widagdo, Director of Portfolio and Business Development of MIND ID, revealed that his party is currently designing an equity story for Inalum aimed at attracting investors with a more optimal valuation when listed on the stock exchange through an IPO.
Dito said on Tuesday, November 26, 2024 that MIND ID is preparing steps to create added value for Inalum so that the market can better perceive its enterprise value.
Currently, MIND ID is still evaluating various alternatives and their impacts, including the potential for increasing added value for the MIND ID holding company.
Iman Rachman, President Director of the Indonesian Securities (BEI), expects major action related to the penetration of companies and subsidiaries of State-Owned Enterprises (SOEs) to become listed companies on the IDX.
Iman's hopes are inseparable from the low number of new SOE issuers on the stock exchange today, which has the potential to become one of the biggest challenges for the Indonesian capital market in the future.
If realized, it is believed that it will strengthen market capitalization and increase liquidity on the Indonesian stock exchange.
"There is great hope that in 2025 several SOE subsidiaries such as Pertamina, Inalum, and PTPN can list their shares on the IDX," he said on October 17, 2024.
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