IDX to meet annual IPO target

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The Indonesia Stock Exchange (IDX) will likely meet its full-year target to host 25 new companies by the year end.

The bourse has welcomed 15 new firms as of Friday, with total sales reaching Rp 6.57 trillion (US$691 million). IDX director for corporate listings Hoesen said that 11 initial public offerings (IPOs) were in the pipeline.

“The total number [of IPOs] may exceed our target,” Hoesen said.

Several companies have performed presentations to the IDX about their plans to float shares on the bourse. The companies are PT Adi Sarana Armada, PT Citra Borneo Indah, PT Express Transindo Utama, PT Pelayaran Nelly Dwi Putri, PT Provident Agro, PT Pasifik Agro Sentosa, PT Siba Surya and PT Baramulti Sukses Sarana. One more firm, shipping company PT Pelayaran Nasional Buana Raya, carried out the presentation on Friday.

Hoesen declined to disclose the names of the other companies planning to go public. However, he hinted that one of the firms would be a manufacturing company.