On Monday (02/06), Indonesian Internet services provider Link Net conducted its initial public offering (IPO) on the Indonesia Stock Exchange (IDX). Despite the negative market sentiments (brought on by the release of Indonesia's wide April 2014 trade deficit), the company's shares rose 50 percent on its trading debut. Offered at IDR 1,600 (USD $0.14) per share at the start of trading, the shares finished at IDR 2,600 (USD $0.28) on Monday. Ciptadana Securities was appointed as lead underwriter for the IPO.
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Today's Headlines Link Net
Indonesian Internet services provider Link Net decided to set its share price for the company's initial public offering (IPO) at IDR 1,600 (USD $0.14), the upper level of the indicative price as investor demand is expected to be high. The company, a subsidiary of First Media (cable-TV operator and Internet services provider), offers 304 million shares, or 10 percent of its enlarged capital between 22 and 23 May 2014. The listing on the Indonesia Stock Exchange is planned for 2 June 2014. Lead underwriter is Ciptadana Securities.
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.
Indonesia's new Financial Services Authority (OJK) is currently processing plans of several companies that intend to conduct their initial public offering (IPO) on the Indonesia Stock Exchange in the first quarter of 2014. Continued enthusiasm of companies for a listing on the Indonesia Stock Exchange (IDX) indicates bullish sentiment. Director of the IDX, Ito Warsito, expects a total of 15 new listings in Q1-2014, while the target for full year 2014 remains at 30. In 2013, 31 companies were added on the IDX.
Same as last year's result, the Indonesia Stock Exchange expects 30 Indonesian companies to conduct an initial public offering (IPO) in 2014. Ito Warsito, Director of the Indonesia Stock Exchange (IDX), said that 15 companies are targeted to become listed on the exchange in the first half of 2014. In January 2014, Link Net, Bank Panin Syariah, Bank Ina Perdana as well as Asuransi Mitra Maparya are expected to become listed companies as they have already been granted approval for this corporate action.
The Financial Services Authority of Indonesia (OJK or Otoritas Jasa Keuangan) announced that six more Indonesian companies are planning to conduct their initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in 2013. The OJK is currently processing the applications, which should see the listings materialize in Q4-2013. One company that was expected to conduct its IPO, but postponed, was Puradelta Lestari. The company was not willing to conduct the IPO in the midst of current bearish market conditions in Indonesia.
It is believed that a total of eleven Indonesian companies are going to conduct an initial public offering (IPO) in the second half of 2013 on the Indonesia Stock Exchange (IDX). Up to July, 24 companies have already been listed on the IDX and raised a combined IDR 12,79 trillion (USD $1.25 billion) of funds. Of the eleven companies that are expected to conduct an IPO in Semester II-2013, three were actually planned to be conducted in Semester I-2013 but were postponed.
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