A subsidiary of petrochemical company PT Chandra Asri Pacific (TPIA), Chandra Daya Investasi (CDI), reveals that it has become a public company in the Indonesia Stock Exchange's information disclosure report, indicating that the company will conduct an initial public offering (IPO).

"Disclosure of affiliated transaction information related to the company's additional capital injection into PT Chandra Daya Investasi (PT CDI)," wrote the company's management on Tuesday, April 15, 2025.

Chandra Asri Pacific is said to have injected capital into its subsidiary in the form of 8.53 new shares issued by PT CDI, with a transaction value of Rp853.26 billion (US$50.6 million).

"The company signed a capital increase deed on April 11, 2025," added management.

Meanwhile, the IPO plan has also been predicted by a number of analysts. Institutional Equity Ciptadana Sekuritas Asia, Yehezkiel Christian, believes in the subsidiary's corporate action plan.

He assessed that the IPO could open up opportunities for synergy and increase operational efficiency. He also assessed that Chandra Asri's move would also strengthen capital for business expansion and increase financial flexibility.

"TPIA is preparing an initial public offering (IPO) of a subsidiary focused on infrastructure, PT Chandra Daya Investasi," Christian wrote in his research, on Tuesday, April 15, 2025.

General Manager of Legal & Corporate Secretary at TPIA, Erri Dewi Riani, confirmed on the IPO plan. Even so, Erri said that currently there has been no announcement regarding the IPO schedule. Because it is still in the internal discussion stage and it is not yet certain when the IPO will be.

Director of PT Chandra Asri Pacific, Suryandi, similarly said that until now TPIA had not provided information regarding the IPO plan.