Saptono Adi Junarso, Executive Vice President Head of Privatization at the Indonesia Stock Exchange, confirmed that three state-owned companies are preparing their initial public offering (IPO) on the Indonesia Stock Exchange. These three companies are Wijaya Karya Realty, Tugu Pratama Indonesia, and Bank BRI Syariah.

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Tugu Pratama Indonesia, an Indonesia-based general insurance company, announced it will not conduct its initial public offering (IPO) on the Indonesia Stock Exchange in 2017 as initially targeted. Instead, it now targets to become a publicly listed company in the first half of 2018. Corporate Secretary Syaiful Azhar said there were several internal and external obstacles that blocked the IPO.

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