UPDATE 1-Indonesia's Pertamina Hulu Energi delays IPO - regulator

(Adds details) JAKARTA, Feb 27 (Reuters) - The upstream unit of Indonesia's Pertamina, Pertamina Hulu Energi, has delayed its initial public offering (IPO) plan over an administrative issue, the country's Financial Services Authority (OJK) said on Monday. The delay concerned which month's financial results Pertamina Hulu Energi would use for its IPO, said Inarno Djajadi, head of capital market supervision at OJK.

Inarno said initially Pertamina Hulu Energi wanted to use its financial results as of June 2022. However, the company decided to use its results as of December 2022.

OJK said Pertamina Hulu Energi would submit the necessary documents to launch the IPO in March 2023. The company had previously not given a specific IPO target date. Pertamina Hulu Energi is expected to sell a 10%-15% stake in the IPO. Previously, two sources with knowledge of the matter told Reuters that the company might earn up to $2 billion from the share offer.

According to a term sheet seen by Reuters, Citigroup , Credit Suisse and JPMorgan are joint bookrunners, along with Indonesia's BRI Danareksa and Bank Mandiri.
(Reporting by Stefanno Sulaiman and Ananda Teresia; Editing by Martin Petty)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UPDATE 1-Indonesia's Pertamina Hulu Energi delays IPO - regulator

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

Solid price gains for gold, silver after busy news weekend

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Silver prices breach $32/oz as bullish technicals and fundamentals suggest potential breakout

off-the-wire

UPDATE 1-Indonesia&apos;s Pertamina Hulu Energi delays IPO - regulator

By Reuters

Reuters

Reuters

UPDATE 1-Indonesia's Pertamina Hulu Energi delays IPO - regulator