Pertamina may launch IPO by 2008

Pertamina, Indonesia’s state oil and gas company, said it may be ready for an initial public offering by the end of 2008. The company would have a market value of US$30 billion, making it the largest publicly traded company on the Jakarta Stock Exchange, the company’s President Ari Soemarno said. A share sale has to be decided and approved by the Indonesian government. (January 28, 2007)