JAKARTA, Nov 23 (Reuters) - The Indonesian subsidiary of Freeport McMoRan Inc hopes to sell a 10.64 percent stake through an initial public offering, its incoming chief executive said on Wednesday.
Freeport Indonesia is required by the Indonesian government to divest the stake and “the two sides see that going to the stock exchange is the best option,” the incoming CEO Chappy Hakim told reporters.
It is unclear if the Indonesian government will buy the stake when it goes on sale. Energy ministry officials could not immediately be reached for comment. (Reporting by Fergus Jensen; writing by Fransiska Nangoy; editing by David Clarke)