Chitose Internasional, an Indonesian furniture manufacturer intends to release 30 percent of its enlarged capital through an initial public offering (IPO) on the Indonesia Stock Exchange in June 2014. Currently, the company is trying to obtain approval from the Financial Services Authority (OJK) in order to conduct the IPO. President Director of Chitose Internasional Dedie Suherlan said that the proceeds will be used for the construction of a new factory, which will produce wood-based furniture products. This factory should become operational in 2015.

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On 4 May 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as macroeconomic assumptions of the Indonesian government, April inflation, the March trade balance, April manufacturing, an update on the rupiah, the 2014 presidential election, and more.

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Indonesia’s Financial Services Authority (OJK) announced that it is studying the requests of seven Indonesian companies to conduct an initial public offering (IPO) on the Indonesia Stock Exchange in the first semester (January-June) of 2014. If the OJK grants permission to these requests, it means that 17 companies will have conducted an IPO on the Indonesia Stock Exchange (IDX) in the first half of 2014. In total, 30 new company listings are expected on the IDX in 2014.

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On 20 April 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as comments on the future policy of Bank Indonesia, the investment climate in Batam, an updated profile of Telekomunikasi Indonesia, IPOs in 2014, an analysis of the unprocessed minerals export ban, and more.

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The Indonesia Stock Exchange (IDX) is optimistic that its target of a total of 30 new initial public offerings (IPOs) in 2014 will be achieved as the 2014 elections are expected to bring positive market sentiments. Companies and investors are confident that a stronger and more balanced government will be inaugurated in October 2014; one that will foster higher economic growth. Moreover, previous election years have always shown that Indonesia's stock market gets a positive boost amid these elections.

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PT Dwi Aneka Jaya Kemasindo Tbk, an Indonesian-based company specialized in corrugated carton and offset printing, offers one billion new shares (40 percent of its enlarged capital) - at a price range of between IDR 425 and IDR 475 per share - in its initial public offering (IPO) on the Indonesia Stock Exchange in the weeks ahead. The printing and packaging company aims to raise a total of between IDR 425 billion (USD $37.3 million) and IDR 475 billion (USD $41.5 million) through this corporate action.

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On Tuesday (08/04), Wijaya Karya Beton (Wika Beton) was officially listed on the Indonesia Stock Exchange (IDX) with listed company code WTON. Wika Beton, a subsidiary of majority state-owned construction company Wijaya Karya, specializes in the precast concrete industry of Indonesia. The company issued two billion shares, or 23.47 percent of its enlarged capital, and expects to raise up to IDR 1.28 trillion (USD $113 million), which will be used for business expansion and for additional working capital.

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Eka Sari Lorena, an Indonesia-based transportation company, is the next company that will conduct an initial public offering (IPO) on the Indonesia Stock Exchange in order to gain funds for further business expansion. Last year, Eka Sari Lorena was denied to go public as it did not get approval from market regulators. After securing approval this year, the company offers 150 million shares (43 percent of its enlarged equity) in an IPO which starts today (01/04). Its listing on the Indonesia Stock Exchange is scheduled for 15 April 2014.

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Pembangunan Perumahan (PP), an Indonesia-based government-controlled construction and investment company, plans to list its subsidiary PP Properti on the Indonesia Stock Exchange through an initial public offering (IPO). The subsidiary is expected to list 30 percent of its shares on the stock exchange and aims to raise between IDR 1.2 and 1.5 trillion (roughly USD $119 million) through this corporate action. The IPO is planned to be conducted in the first quarter of 2015. The possible lead underwriters are Mandiri Sekuritas and Bahana Securities.

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Pelabuhan Indonesia III (better known as Pelindo III or Indonesia Port Corporation III), the state-owned company that is responsible for the management, regulation, maintenance and operation of ports in Central Java, East Java, Bali, South Kalimantan, Central Kalimantan, West Nusa Tenggara and East Nusa Tenggara, may conduct its initial public offering (IPO) on the Indonesia Stock Exchange in the fourth quarter of 2014 if market conditions are conducive after the legislative and presidential elections of 2014.

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As all spotlights this week were - and still are - focused on the 2014 Indonesian presidential election, it almost passed unnoticeably that five Indonesian companies will be listed on the Indonesia Stock Exchange (IDX) this week. If all these listings will go according to schedule, then the number of initial public offerings (IPOs) in 2014 will increase to 18 by the end of the week. The five companies are: Batavia Prosperindo Internasional, Magna Finance, Mitrabara Adiperdana, Bank Dinar Indonesia, and Sitara Propertindo.

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In the first half of 2014, 13 Indonesian companies conducted an initial public offering (IPO), including one relisting, on the Indonesia Stock Exchange (IDX). Total proceeds that were raised in the IPOs by these 13 companies was IDR 4.05 trillion (USD $340.3 million). However, both results were weaker than those in the same period last year. In the first half of 2013, 17 new listings were registered on the IDX and which managed to raise a combined total of IDR 10 trillion (USD $840.3 million). Why do we see less IPOs in Indonesia in 2014?

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After Bank Panin Syariah became Indonesia's first newly listed company on the Indonesia Stock Exchange (IDX) in the year 2014, it was quickly followed by four more listings in this past week. On Thursday (16/01), three new listings were conducted - Asuransi Mitra Maparya (ASMI), Bank Ina Perdana (BINA) and Capitol Nusantara Indonesia (CANI) - as well as one relisting - Tunas Alfin (TALF). The latter had delisted from the Surabaya Stock Exchange in December 2009 after the exchanges of Jakarta and Surabaya merged into the IDX.

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Garuda Indonesia, the country's top-class airline, is planning to conduct a rights issue in the first quarter of 2014. Through this corporate action, which has already been approved by the shareholders, the state-controlled company aims to raise IDR 2 trillion (USD $162.6 million). For 2014, the airline plans to allocate IDR 4 trillion in capital expenditure (capex) for business expansion. About half of this amount should originate from funds generated through the rights issue.

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Five more new public listings are expected on the Indonesia Stock Exchange (IDX) in the remainder of 2013 despite the current less rosy macroeconomic environment in Indonesia. The companies that are expected to conduct their initial public offering (IPO) are Indomobil Multi Jasa, Dwi Aneka Jaya Kemasindo, Blue Bird, Soechi Lines, and Sawit Sumbermas Sarana. So far this year, 26 Indonesian companies went public on the IDX. At the start of the year, the IDX targeted for at least 30 new listings in 2013.

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After it was reported that Garuda Indonesia, Indonesia's state-controlled national air carrier, postponed its rights issue, the company stated that it highly doubts an initial public offering (IPO) of its subsidiary Garuda Maintenance Facility (GMF) AeroAsia on the Indonesia Stock Exchange (IDX) in 2013. The reason for this postponement is current lingering uncertainty that plagues emerging markets, including Indonesia, since May 2013. Uncertainty about the future of the Federal Reserve's quantitative easing program led to a large outflow of foreign funds.

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For the third day in a row, Indonesia's main stock index (IHSG) made a strong upward jump on Friday (28/06). Supported by strong American and European stock indices on the previous trading day, the IHSG rose 3.06 percent to 4,818.90 points. American and European indices mostly rose on Thursday (27/06) due to various positive macroeconomic data from the USA. These economic data translated into the good performance of the IHSG and other Asian stock indices on Friday. All sectoral indices of the IHSG were reported to have grown.

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Multipolar Technology, an information technology company and the wholly owned subsidiary of Multipolar, seeks to reap funds between IDR 160 and 188 billion (USD $16.2 to $19.0 million) through an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) to finance its expansion plans. The company will offer 375 million shares, or 20 percent of its stock capital, to the public for a price between IDR 425 and 500 per share. Multipolar Technology provides IT hardware and infrastructure, software and business solutions, and consultancy services.

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Garuda Indonesia, one of the major airlines in Indonesia, has announced to conduct a rights issue in October 2013. Through the rights issue, which involves the issuance of 10 percent of new shares, Garuda aims to reap USD $200 million. Garuda was a fully state-owned company before its initial public offering (IPO) in early 2011 when it released 30 percent of its shares. However, Indonesia's House of Representatives (DPR) had approved total public offering up to 40 percent. The remaining 10 percent is now offered through the rights issuance.

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State-owned cement producer Semen Baturaja invites investors to its initial public offering (IPO) between 29 May and 7 June 2013 at the Ritz Carlton Pacific Place in Jakarta. Through this IPO, the company offers 2.34 billion shares (about 23.76 percent of its stock equity) to the public with an initial price target of IDR 500 - 685 per share (USD $0.05 - $0.07). Semen Baturaja will be listed on the Indonesia Stock Exchange (BEI) on 28 June 2013. The lead underwriters for this IPO are Bahana Securities, Danareksa Securities and Mandiri Securities.

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