Pertamina sees 750 bln rph from Tuga Pratama IPO

Indonesia's state oil and gas firm PT Pertamina expects to raise 750 billion rupiah ($83 million) from its subsidiary insurance firm PT Tugu Pratama's initial public offering (IPO), Pertamina's finance director said on Wednesday.

Tugu Pratama plans to sell 20 to 30 percent of new shares in the IPO, which is expected to be launched in the first half of this year.  Source: Reuters