More companies are set to list their shares on the Indonesia Stock Exchange's (IDX) board, following the favorable market condition after Wednesday's peaceful presidential election.
Local mall operator PT Metropolitan Kencana is scheduled to officially list its shares on the local bourse's main board Friday, after offering 10 percent of its shares to the public.
Telecommunications equipment service provider PT Katarina Utama will follow suit next Tuesday, after selling 40 percent of its shares to the market.
The IDX director for corporate grading, Eddie Sugito, says the result of the presidential election has created a good sentiment in the market, with the incumbent President Susilo Bambang Yudhoyono having unofficially secured re-election in a single-round vote.
"The market anticipated such a result," Eddy said Thursday, after the official listing of local coal company PT Garda Tujuh Buana.
"We hope this can be a good reason for other companies to become more confident in joining the stock market."
Garda's listing followed the company's previous initial public offering (IPO) held from July 1 to 3, when the company offered 73 percent of its shares to the public at a price of Rp 115 (1 US cent) a share, and managed to secure Rp 210 billion.
Garda is the fifth company to have gone public recently, after PT Sumber Alfaria Trijaya, operator of the Alfamart chain of mini-marts, cell phone distributor PT Trikomsel Oke Tbk (TRIO), financing firm for used cars PT Batavia Prosperindo Finance Tbk (BPFI), and local mobile IT infrastructure provide PT Inovisi Infracom Tbk (INVS).
Despite slow progress, with only five companies going public in the first half of this year, IDX president director Ito Warsito is confident of meeting the target of getting 15 companies to go public by year's end.
He added Wednesday's decisive election had brought more good to the market, with investors now certain the country's next president.
"Investors need certainty. The quicker it comes, the happier they are," Ito said.
It will also make it easier for investors and companies to make decisions on their investment planning in the future, he said.
Market confidence was up slightly Thursday, a day after the election, with the index rising 0.03 percent to close at 2,083.97.
The index has risen 13.4 percent this year, as Indonesia's ability weather the global economic crisis attracts more investors.
Indonesia is among the few countries in Asia that posted a positive growth in the first quarter of this year, alongside powerhouses China and India.
