Indonesia's Pertamina Hulu Energi, the state-owned oil and gas company, mulls US$3bil Jakarta IPO

JAKARTA, May 2 (Bloomberg): PT Pertamina, Indonesia’s state-owned oil and gas company, is weighing an initial public offering of its exploration unit that could be the biggest first-time share sale in Southeast Asia in more than a decade, according to people with knowledge of the matter.

The potential listing of PT Pertamina Hulu Energi could raise at least US$3 billion, said the people, who asked not to be named as the information is private. Pertamina has picked advisers and is targeting holding the Jakarta offering as soon as next year, the people said.