Update COVID-19 in Indonesia: 70,736 confirmed infections, 3,417 deaths (9 July 2020)
6 July 2020 (closed)
USD/IDR (14,501) +55.01 +0.38%
EUR/IDR (16,343) -41.31 -0.25%
Jakarta Composite Index (5,052.79) -23.38 -0.46%
At least nine companies are ready to conduct an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in the next two months. Among these nine companies are: Megapower Makmur, Cikarang Listrindo, Duta Inti Daya, Sillo Maritime Perdana, Bank Ganesha and Graha Andrasentra Propertindo. So far this year only three companies have been added to the Indonesian bourse. Due to economic uncertainties in recent years (making investors cautious), few companies have been eager to list on the IDX since 2014.
Tito Sulistio, Director of the IDX, said he detects rising enthusiasm from local companies to list on the IDX this year. Almost every day there are companies visiting the IDX building to seek more information about IPO procedures. He added that the IDX will invite six or seven insurance companies (currently fully-owned by foreign investors) to conduct an IPO as a new government regulation (Law No. 40/2014) curbs foreign ownership in insurance companies to 80 percent.
The companies that have already conducted an IPO on the Indonesia Stock Exchange this year are Bank Artos Indonesia, Mitra Pemuda, and Mahaka Radio Integra.
Initial Public Offerings (IPO) on the Indonesia Stock Exchange:
|Number of IPOs||23||25||24||30||23||16||3|
|Initial IPO Target||25||25||25||30||30||32||35|
(in IDR trillion)
Source: Investor Daily