The Indonesia Stock Exchange (IDX) expects five more initial public offerings (IPOs) before the end of this year. These companies are the Blue Bird Group, Soechi Lines Indonesia, Imack Pratama Industri, Intan Baruprana Finance, and Karisma Aksara Mediatama. The IPO of Blue Bird, known for its taxi services, is the most awaited one. The company is expected to sell 20 percent of its enlarged capital to the public and aims to raise about USD $450 million, making it one of the largest IPOs on the IDX since Indofood CBP Sukses Makmur in 2010.
Blue Bird is the market leader in Indonesia's taxi services market. To date, only one Indonesian taxi firm has listed its stocks on the IDX i.e. Express Transindo Utama, Blue Bird's main competitor for market leadership in the taxi industry. In November 2012 Express conducted a successful IPO raising about USD $60 million. The marketing for Blue Bird’s IPO will run until the end of next week and the bookbuilding process is expected to start the week after. The company appointed Credit Suisse, Danareksa and UBS as coordinators and bookrunners.
If these five IPOs will be realized before the year-end, it means that 23 new companies will have listed on the IDX in 2014. However, at the start of the year, the IDX set a target of adding 30 Indonesian companies to the stock exchange. Several factors contributed to the (possible) failure to achieve the target: Indonesia’s legislative and presidential elections (including a controversial Constitutional Court case) that caused political uncertainty, the tighter monetary policy of Indonesia’s central bank (with its key interest rate at 7.50 percent since November 2013) as well as international uncertainty due to the winding down of the Federal Reserve's bond-buying program and looming end of the low US interest rate environment (which is expected to lead to capital outflows from emerging economies including Indonesia once these interest rates are raised).
Currently, there are 501 Indonesian companies listed on the IDX. This figure is low compared to the number of listed companies on the stock exchanges of Malaysia (906 companies) and Singapore (771 listed companies).
In 2014 so far, there have been 18 companies that have conducted an IPO on the Indonesia Stock Exchange:
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange in 2014 up to 19 September
|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