MIND ID Officially Acquires Stake in INCO Gov
The government appointed a state-owned mining holding company, MIND ID, to take over a 20 percent stake in PT Vale Indonesia Tbk (INCO). The appointment of the company – formerly known as PT Indonesia Asahan Aluminum (Inalum) – was based on a letter from the Energy and Mineral Resources Deputy Minister Arcandra Tahar to Finance Minister Sri Mulyani Indrawati.
Unfortunately, the Energy and Mineral Resources Ministry still shuts any information related to INCO’s stock valuation. Referring to the average price of INCO shares on the Indonesia Stock Exchange over the past three months at Rp 3,352 per share, the 20 percent divestment value of nickel producer reaches Rp 6.66 trillion. Currently, INCO has a market capitalization of Rp 35.97 trillion.