IPP
, Indonesia
Photo from Pertamina Geothermal Energy.

PGE goes public on Indonesia Stock Exchange

It was able to raise around $593.5m in its initial public offering.

PT Pertamina Geothermal Energy (PGE) has listed a total of 10.35 billion ordinary shares for trading on the main board of the Indonesia Stock Exchange, representing 25% of its issued and paid-up capital.

In a statement, PGE said the shares were offered at around $0.057 (IDR875) per share, and it was able to raise around $593.5m (IDR9.1t). Over 630 million shares were allocated to the management and employee stock option programme.

READ MORE: Indonesia’s geothermal energy to reach 8.1GW by 2035

PGE President Director Ahmad Yuniarto said the funds raised from the IPO will be used to support the company’s plan to develop its installed capacity until 2027.

The company aims to increase its own and operated base installed capacity to 1,272 megawatts (MW) in 2027 from the current 672MW.

It manages 13 geothermal areas with a total installed capacity of 1,877 MW.

$ = IDR15,260.05

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

India removes licence requirement to build transmission lines for bulk consumers
The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.
NEFIN Group works double time to catch up on projects
CEO Glenn Lim explains how a delay turned out good as the company aims to reach 667 MW of capacity by 2026.
Summit Power International provides vital LNG support to Bangladesh
Without cross-border electricity supply, LNG is needed by a country facing geographical constraints to deploy renewables.