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28 SEPTEMBER 2021 AL CIRCLE

Mining Industry Indonesia visions end-2022 towards floating IPO of Inalum

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

On 27th September 2021, the CEO of the state mining holding firm Mining Industry Indonesia (MIND ID), Orias Petrus Moedak stated the company is looking out for an initial public offering (IPO) around the end of next year for its bauxite mining business.

MIND ID visions end-2022 towards floating IPO of Inalum

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The CEO further added, as a controller shareholder, the State-Owned Enterprises Ministry is presently in the process of separating MIND ID and its bauxite business, known as Inalum, into two entities in preparation for the IPO, chief executive Orias Petrus Moeldak said.

Orias further added that the State-Owned Enterprises Ministry, as the controlling shareholder, is currently in the process of separating MIND ID and its bauxite business, known as Inalum, into two entities in preparation for the IPO.

“If the separation process can be concluded this year or early next year, we hope the IPO can be launched by the end of 2022,” he said.

Ogi Prastomiyono, Director of Strategic Services for MIND ID said: “Inalum is conducting due diligence for the IPO and no further details have been set yet for the planned shares sale.”

Outlook for the Indian Aluminium Industry

“Inalum will continue to focus on mining and processing of bauxite, including building an alumina refinery.”

“After Inalum’s IPO the company will start discussions over whether an IPO for MIND ID will be required”, Ogi added.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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