The Indonesia Stock Exchange (IDX) encourages those companies listed in Indonesia to list their shares on other exchanges as well, particularly the New York Stock Exchange (NYSE). Through such dual listings Indonesian companies can manage to attract more global attention and investors. IDX President Director Tito Sulistio said the IDX has sent 100 invitations to locally-listed companies to visit the NYSE in order to learn more about the possibility to engage in a dual listing.
Although the Indonesia Stock Exchange (IDX) sent 100 invitations to a selection of publicly-listed companies in Indonesia (there are a total of 533 firms listed on the IDX), only 15 company representatives will be invited to visit the New York Stock Exchange in late October 2016. Sulistio did not inform about the criteria that are applied when selecting the "winners". Currently, only state-controlled telecommunications, information technology firm Telekomunikasi Indonesia (Telkom) is listed on the NYSE. Its competitor Indosat Ooredoo used to be a dual-listed company on the NYSE and IDX. However, on 16 May 2013, it was delisted from the NYSE on request of the company for cost efficiency reasons.
Sulistio said there are many US investors who are interested to invest in Indonesian companies. However, for retail (individual) investors who live and work outside Indonesia it is difficult to buy stocks of companies listed in Indonesia. A solution would be that Indonesian companies list on the NYSE. Sulistio added that he hopes to see some sort of partnership between the stock exchanges of Indonesia and New York in the future although he did not specify what kind of partnership. He also did not inform which Indonesian companies are well-positioned to engage in a dual listing.
In August Garvis Toler, Global Head of Capital Markets at NYSE, visited Indonesia to seek opportunities to promote each others stock exchanges.
Currently the IDX is also busy developing a cross border offering in cooperation with Malaysia's stock exchange. The aim of this collaboration is to allow Indonesian investors (individual or institutional) to purchase shares of companies that are listed on the Malaysia stock exchange (Bursa Malaysia) through Indonesian securities companies, and vice versa. This cooperation may focus on Islamic capital markets. A memorandum of understanding (MoU) was signed by the stock exchanges of Indonesia and Malaysia on 2 August 2016 at the 12th World Islamic Economic Forum (WIEF) in Jakarta.