Business · Markets · 13 hrs ago
Jakarta Water Company Begins IPO Consultations
PAM Jaya, the water company owned by Jakarta’s provincial government, is exploring a possible initial public offering, or IPO.
The company is consulting with Indonesia’s Financial Services Authority, known as OJK, to understand the steps involved.
It has not filed an IPO application, and any progress depends on the company’s readiness.
Jakarta Governor Pramono Anung has said the provincial government will keep majority ownership of PAM Jaya.
He said the same rule will apply to Bank Jakarta, which also plans to go public, and will be set out in a regional regulation.
An IPO could allow members of the public and investors to buy shares while the provincial government retains control.
PAM Jaya, Jakarta’s regional water company, is consulting Indonesia’s Financial Services Authority about a possible initial public offering.
The company has not submitted an IPO application, authority official Hasan Fawzi said.
The consultations are intended to explain the IPO process, and any next steps depend on the company’s readiness.
Jakarta Governor Pramono Anung said the provincial government would remain the majority shareholder in PAM Jaya and Bank Jakarta if they list shares.
- Who
- PAM Jaya, a company owned by the Jakarta provincial government, is exploring an IPO.
- What
- It is consulting the Financial Services Authority about the IPO process. No application has been submitted.
- When
- The consultations were reported on October 12, 2026.
- Where
- Jakarta; Hasan Fawzi spoke at the Indonesia Stock Exchange building.
- Why
- The consultations aim to explain the IPO process. Pramono Anung said the planned IPOs are part of efforts to strengthen the management of regional government-owned companies.
This story does not have two clearly opposing sides.
Pramono Anung said the Jakarta provincial government would retain majority ownership of Bank Jakarta and PAM Jaya if they pursued IPOs.
Hasan Fawzi said PAM Jaya was consulting the Financial Services Authority and had not submitted an IPO application.
- Company
- PT Air Minum Jaya (Perseroda), known as PAM Jaya
- Consultation status
- No IPO application submitted
- Regulator
- Indonesia’s Financial Services Authority (OJK)
- Majority ownership
- Jakarta provincial government
- Other company mentioned
- Bank Jakarta
What people are saying
We are consulting. There has not been an application, just consultations.
For the IPOs, both Bank Jakarta and PAM Jaya must remain majority-owned by Jakarta.
Sources
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