After the companies Sitara Propertindo and Bank Dinar Indonesia were listed on the Indonesia Stock Exchange (IDX) on Friday (11/07), the total number of listed Indonesian companies has now reached 502. This year so far, there have been 18 Indonesian companies that conducted an initial public offering (IPO) on the IDX. Ito Warsito, General Director of the IDX, said that he is optimistic that this year’s target of 30 newly listed Indonesian companies will be achieved by the year-end.
Particularly after the official result of the presidential election is announced on 22 July 2014, causing a more certain political and economic climate (unless the result is disputed and needs to be handled by the country’s Constitutional Court first which will take up to late August before a final decision is made), companies are expected to be more enthusiast to hold an IPO.
Warsito emphasized that it is important to have more IPOs in Indonesia, Southeast Asia’s largest economy, as it deepens the capital market. Currently the number of listed companies on the IDX is low compared to other countries. For example, Singapore and Malaysia have about 700 and 900 listed companies, respectively. Therefore, the IDX has been busy to make it more attractive for Indonesian companies to publicly trade their shares (for example by implementing easier rules to hold an IPO) and try to educate Indonesian companies about the advantages of being a listed company.
Sitara Propertindo, an Indonesian property company, raised IDR 424 billion by releasing four billion shares, or 39.96 percent of its enlarged share capital. The company’s shares rose 69.8 percent on its first trading day. Meanwhile, Bank Dinar (a financial institution) released 500 million shares, or 22.22 percent of the company’s enlarged share capital. Shares of the bank rose 70 percent on its trading debut.
Stock Quote Sitara Propertindo - TARA:
Stock Quote Bank Dinar Indonesia - DNAR:
Last Update: 29 Mar 2021
IPOs in 2014 up to 12 July
|Company||P: 29 Mar 2021||P: 28 Mar 2021||Gain/Loss||P/E ttm||Yield %||Gain/Loss YTD|
|Bank Panin SyariahPNBS||83||82||1.22%||N/A||0.00%||-4.60%|
|Asuransi Mitra Maparya Tbk.ASMI||925||930||-0.54%||N/A||0.00%||-6.57%|
|Bank Ina Perdana Tbk.BINA||1,560||1,550||0.65%||N/A||0.00%||64.21%|
|Capitol Nusantara Indonesia Tbk.CANI||186||186||0.00%||N/A||0.00%||22.37%|
|Tunas Alfin Tbk.TALF||310||258||20.16%||N/A||0.00%||13.97%|
|Bali Towerindo Sentra Tbk.BALI||700||690||1.45%||N/A||0.00%||-6.04%|
|Wijaya Karya BetonWTON||334||344||-2.91%||N/A||0.00%||-20.85%|
|Graha Layar PrimaBLTZ||4,600||4,650||-1.08%||N/A||0.00%||53.85%|
|Intermedia Capital Tbk.MDIA||63||66||-4.55%||N/A||0.00%||3.28%|
|Eka Sari Lorena TransportLRNA||180||185||-2.70%||N/A||0.00%||1.69%|
|Magna Finance Tbk.MGNA||50||50||0.00%||N/A||0.00%||0.00%|
|Batavia Prosperindo Internasional Tbk.BPII||7,300||7,300||0.00%||N/A||0.00%||-15.12%|
|Sitara Propertindo Tbk.TARA||50||50||0.00%||N/A||0.00%||0.00%|
|Bank Dinar Indonesia Tbk.DNAR||196||210||-6.67%||N/A||0.00%||6.52%|
Green colour indicates upward movement
Red colour indicates downward movement
P = price; E = earnings; D = dividend; Yield = D/P
"N/A" indicates P/E < 0 (negative earnings)
"-" indicates E,D,P or YTD is not available