Indo Tambangraya (ITMG) Son in the EBT Business Is Ready for IPO, When?

Jakarta, Indonesia – PT Indo Tambangraya Megah Tbk (ITMG) does not rule out the possibility that one day it will release the shares of its subsidiary in the new renewable energy (EBT) sector in an initial public offering (IPO). The company will prepare a line of business in this sector.

Director of Corporate Communications and Investor Relations Yulius Gozali said this is because the company also sees a large business potential in this sector. Moreover, the world of energy will slowly lead to green or environmentally friendly energy.

“(IPO) is being considered regarding renewable energy, for example for a solar power plant under PT ITM Banpu Power,” he said during a conversation with the media at Pondok Indah Mall Jakarta, Wednesday (17/5).

Yulius said that the IPO process would be carried out if the company has invested a lot in this sector. “If there has been a lot of investment in solar power and a solar roof top, we can wean it into a public company,” he said.

However, he could not predict when the corporate action would take place. This is because the company has not yet measured and calculated its funding needs.

On the other hand, Yulius Huga said that currently the company is intensifying business diversification into the nickel mining sector to support the electric vehicle ecosystem. In fact, his party has held talks with a number of nickel companies.

According to him, ITMG’s entry into the nickel business is an effort to diversify the non-coal business while helping the development of the electric vehicle ecosystem. Later, it is expected to be able to provide products for battery raw materials.

“We plan to diversify the nickel business and are currently looking for mines to acquire,” he said.

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(rob/ayh)