PT Kalbe Farma Tbk (KLBF) is reviewing its two subsidiaries to carry out an initial public offering (IPO) of shares, considering market conditions.

Apart from a subsidiary in the nutrition segment, Kalbe also explores a subsidiary IPO in the distribution and logistics segment.

Kalbe Farma President Director Vidjongtius said the company continues to monitor stock market movements.

"We should prepare ourselves as well as possible, from two segments, namely nutrition and distribution, the company can push for an IPO of one or both of them. We can do this initiative for the nutrition and distribution divisions," he said on Friday (28/5).

Apart from the IPO, the company plans to expand business for the nutrition and distribution segment through business alliances or collaborations.