Ten subsidiaries of state-owned enterprises (SoE) will conduct initial public offerings (IPO) in 2018, said Aloysius Kiik Ro, deputy minister of business restructuring and development, on Nov 9. He said four companies has conducted IPO this year namely PT Garuda Maintenance Facility Aero Asia (GMFI), PT PP Presisi Tbk, PT Wika Gedung, and PT Jasa Armada Indonesia.