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IPO

Indonesia to jump on IPO boom by listing 14 state-owned companies

Fundraising drive to improve competitiveness and replenish coffers

Pertamina workers load and unload fuel at a terminal in Pematang Siantar, Indonesia. Subsidiary Pertamina International Shipping is set to debut on the stock market by next year.   © Reuters

JAKARTA -- A fossil fuel shipper and a geothermal energy firm are among the 14 state-owned companies that the Indonesian government plans to list in the stock market by 2023 in an effort to both improve management and replenish public coffers drained by the coronavirus response.

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