2017 Is Great IPO Year for Indonesia, What About 2018?
So far in 2017 a total of 35 companies have conducted an initial public offering (IPO) on the Indonesia Stock Exchange, the best result in recent history. Meanwhile, Samsul Hidayat, Director of Corporate Listing at the Indonesia Stock Exchange, said one more trading debut is expected to occur before the end of the year, to wit Jasa Armada Indonesia.
Jasa Armada Indonesia, a subsidiary of state-owned port services firm Pelabuhan Indonesia II, is set to release 1.21 billion shares to the public through the IPO and aims to obtain IDR 461.7 billion (approx. USD $34.2 million) in fresh capital through the corporate move (with the share price set at IDR 380 a piece).
If Jasa Armada Indonesia will indeed make its trading debut (scheduled for 22 December 2017), then there will be a total of 566 listed companies on the Indonesia Stock Exchange, which is still a low figure compared to listed companies in regional peers Singapore and Malaysia.
Nevertheless, the high number of IPOs in 2017 in Indonesia has also helped to push Indonesia's benchmark Jakarta Composite Index to a new all-time record high on Tuesday (19/12).
It is also worth mentioning that a total of four units of state-owned companies will have gone public in 2017, a new record. These units are PP Presisi (unit of Pembangunan Perumahan), Wijaya Karya Gedung (unit of Wijaya Karya), Garuda Maintenance Facility AeroAsia (unit of Garuda Indonesia), and Jasa Armada Indonesia (unit of Pelabuhan Indonesia II).
But what about IPOs on the Indonesia Stock Exchange in 2018? Hidayat said the local bourse, again, targets to see 35 IPOs next year. Five companies have already conducted a mini expose at the exchange and are therefore expected to be listed in the first half of 2018. Meanwhile, at least nine subsidiaries of state-owned companies are estimated to make their debut on the Indonesia Stock Exchange in 2018 (which would be a new record).
Initial Public Offerings (IPO) in Indonesia:
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Number of IPOs | 22 | 25 | 23 | 31 | 24 | 18 | 16 | 35¹ |
¹ up to 19 December 2017
Source: Indonesia Stock Exchange (IDX)
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 19 December 2017
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| Sanurhasta MitraMINA | 79 | 64 | 23.44% | N/A | 0.00% | 58.00% |
| Forza Land IndonesiaFORZ | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Industri dan Perdagangan Bintraco DharmaCARS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Nusantara Pelabuhan HandalPORT | 490 | 498 | -1.61% | N/A | 0.00% | 16.11% |
| Sariguna PrimatirtaCLEO | 468 | 466 | 0.43% | N/A | 0.00% | -9.13% |
| Pelayaran Tamarin SamudraTAMU | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Cahayasakti Investindo SuksesCSIS | 80 | 76 | 5.26% | N/A | 0.00% | 25.00% |
| Terregra Asia EnergyTGRA | 140 | 142 | -1.41% | N/A | 0.00% | -49.28% |
| First Indo American Leasing Tbk.FINN | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Alfa Energi Investama Tbk.FIRE | 590 | 605 | -2.48% | N/A | 0.00% | -48.47% |
| Totalindo Eka Persada Tbk.TOPS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Kirana Megatara Tbk.KMTR | 416 | 414 | 0.48% | N/A | 0.00% | 20.93% |
| Hartadinata Abadi Tbk.HRTA | 206 | 208 | -0.96% | N/A | 0.00% | -11.21% |
| Integra IndocabinetWOOD | 770 | 750 | 2.67% | N/A | 0.00% | 19.38% |
| MAP Boga AdiperkasaMAPB | 1,330 | 1,330 | 0.00% | N/A | 0.00% | 3.10% |
| Armidian Karyatama Tbk.ARMY | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Buyung Poetra Sembada Tbk.HOKI | 252 | 254 | -0.79% | N/A | 0.00% | -76.34% |
| Marga Abhinaya Abadi Tbk.MABA | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Megapower Makmur Tbk.MPOW | 82 | 80 | 2.50% | N/A | 0.00% | 22.39% |
| Mark Dynamics Indonesia Tbk.MARK | 1,070 | 1,020 | 4.90% | N/A | 0.00% | -1.83% |
| Ayana Land International Tbk.NASA | 104 | 104 | 0.00% | N/A | 0.00% | 0.00% |
| Emdeki Utama Tbk.MDKI | 224 | 220 | 1.82% | N/A | 0.00% | -8.94% |
| Trisula Textile IndustriesBELL | 143 | 143 | 0.00% | N/A | 0.00% | -9.49% |
| Kioson Komersial IndonesiaKIOS | 590 | 600 | -1.67% | N/A | 0.00% | 4.42% |
| Garuda Maintenance Facility AeroAsiaGMFI | 120 | 120 | 0.00% | N/A | 0.00% | -10.45% |
| Malacca Trust Wuwungan Insurance Tbk.MTWI | 103 | 103 | 0.00% | N/A | 0.00% | 63.49% |
| Kapuas Prima Coal Tbk.ZINC | 128 | 129 | -0.78% | N/A | 0.00% | -26.86% |
| M Cash Integrasi Tbk.MCAS | 4,580 | 4,500 | 1.78% | N/A | 0.00% | 0.00% |
| PP Presisi Tbk.PPRE | 206 | 208 | -0.96% | N/A | 0.00% | -18.90% |
| Wijaya Karya Bangunan Gedung Tbk.WEGE | 214 | 216 | -0.93% | N/A | 0.00% | -17.05% |
| Pelita Samudera Shipping Tbk.PSSI | 214 | 208 | 2.88% | N/A | 0.00% | 24.42% |
| Panca Budi Idaman Tbk.PBID | 1,575 | 1,580 | -0.32% | N/A | 0.00% | -2.48% |
| Dwi Guna Laksana Tbk.DWGL | 181 | 184 | -1.63% | N/A | 0.00% | 10.37% |
| Asuransi Jiwa Syariah Jasa Mitra AbadiJMAS | 163 | 175 | -6.86% | N/A | 0.00% | -18.09% |
| Campina Ice Cream IndustryCAMP | 242 | 244 | -0.82% | N/A | 0.00% | -22.44% |
| Combined Total | 15,110 | 14,991 | 0.79% | -8.72% |
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