Through PalmCo, Holding PTPN Would Join the Stock to Get Rp 10 Billion

Foto By Afrinaldi Zulhen/SawitFest 2021 - Ilustration of oil palm lanskap
Through PalmCo, Holding PTPN Would Join the Stock to Get Rp 10 Billion

InfoSAWIT, JAKARTA – To strengthen the finance, the government’s company that operates in palm oil plantation sector, Holding Perkebunan Nusantara PTPN III (Persero) or PTPN III through sub holding in PalmCo would get initial public offering (IPO) in the second or third quarter of 2023.

Director of PTPN III, Mohammad Abdul Ghani said, the IPO plan would get fund about Rp 5 billion to Rp 10 billion by pointing Mandiri Sekuritas and McKinsey as the advisor institutions.

To realize the plan, Holding PTPN would accelerate the establishment of sub-holding PalmCo with the target to be complete in October 2022. “It is in process to establish sub-holding PalmCo. At least, in October this year considering that the establishment of the sub – holding still needs the government’s policy (regulation),” he said at Ministry of Enterprises, Jakarta, Monday (22/8).

Ghani also mentioned, PTPN would expand palm oil plantations that would be cultivated by using the fund from IPO. He thought, palm oil plantations that PTPN could cultivate would lay about 700 thousand hectares in 2030 by hoping to escalate the contribution for the country.

Palm oil plantations that PTPN cultivates lay about 500 thousand hectares. The numbers are equal to 4 percent from the plantations in national level within the contribution about 6 percent. “PTPN does business not from the corporate but from the national interest,” he said. (T2)