Tugu Pratama aims to sell 30 pct stake via IPO in H1

PT Tugu Pratama, an Indonesian insurance firm majority owned by state-oil and gas firm Pertamina, plans to launch an initial public offering in the first half of 2011 by selling 20 to 30 percent new shares, Frederick Siahaan, a Pertamina's director, said on Tuesday.

Siahaan declined to comment on how much the company expects to raise, but Pertamina currently owns a 65 percent stake in the firm. Source: Reuters