JAKARTA -- The founder of CT Corp, one of Indonesia's largest conglomerates, aims to modernize and list the massive, 34-year-old entity -- and is banking on Japanese expertise to make it happen.
Giving up their closely held status is a rarity among large, family-run Indonesian business groups. But Chairul Tanjung, who is also CT's chairman, told Nikkei Asia that getting it ready for an IPO and going public will "institutionalize" the business and ensure its continuity beyond his own tenure.
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