Pertamina Geothermal Energy is the first unit of the state-owned oil and gas giant to go public in many years.
© Reuters
ERWIDA MAULIA, Nikkei staff writer |
JAKARTA — Shares in the geothermal subsidiary of Indonesian state oil and gas giant Pertamina closed flat compared to the initial public offering price on the company’s market debut on Friday.
Pertamina Geothermal Energy raised 9.056 trillion rupiah ($595.6 million) from the IPO, the biggest at the Indonesia Stock Exchange (IDX) so far this year. Over 10 billion shares were released to the public, representing 25% of PGE.
