Indonesia’s sovereign wealth fund (SWF), known as INA, and a Chinese SWF are in talks to pick up a 20% stake in Indonesian pharmaceutical company PT Kimia Farma, according to a top executive.
INA and the SWF are conducting due diligence to finalise an investment in Kimia Farma and its subsidiary, Kimia Farma Apotek, for a maximum of 20% ownership, said Honesti Basyir, CEO of Indonesian vaccine marker Bio Farma.