Pertamina Hulu Energi plans $1.4b Indonesian IPO with June debut

Pertamina Hulu Energi plans $1.4b Indonesian IPO with June debut

An electronic board at the Indonesia Stock Exchange (IDX) in Jakarta. REUTERS/Beawiharta

The upstream arm of Indonesia’s state energy company Pertamina, Pertamina Hulu Energi, plans to debut on the local bourse in June, after raising at least 20 trillion rupiah ($1.36 billion), two sources with direct knowledge of the matter told Reuters.