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IDX regional offices to handle IPOs
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Indonesia Stock Exchange (IDX) president director Tito Sulistio makes remarks during an event on June 16. (kompas.com/Iwan Supriatna)
T
he Indonesian Stock Exchange (IDX) will enable four regional offices to handle initial public offerings (IPO), which will ease the administration duties of regional-based companies.
Regional offices in Bandung, Medan, Semarang and Surabaya will receive the extra authority and will be supported by an updated e-filling system to communicate with the Jakarta office. With the current centralized system, regional companies have to spend time in Jakarta for the administration side of an IPO process.
"The Surabaya office will start from August 10 and Makassar will begin in the second phase. There are rising demands from companies in eastern Indonesia to go public," IDX President Director Tito Sulistio told thejakartapost.com at the Financial Service Authority (OJK) building on Friday.
Tito added that this program would make underwriting businesses expand to other regions. As the IPO process was currently still centralized, all underwriting services are based in Jakarta. Securities firms have branches in other cities but are limited to selling purposes.
"If there are a lot of underwriting projects in the regions, underwriting businesses will follow," he closed. (bbn)
