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Financial authority foresees 21 IPOs this year
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The trading floor of the Indonesia Stock Exchange (IDX). (JP/Wienda Parwitasari)
T
he Financial Services Authority (OJK) expects to see 21 initial public offerings (IPO) this year, lower than the 35 that has been targeted by the bourse.
"In deciding the target, we have to look at our achievements in recent years," OJK commissioner for capital market supervision Nurhaida said after attending the OJK's annual dinner in Jakarta.
Vice President Jusuf Kalla attended the event along with hundreds of businesspeople involved in the country's financial services.
The authority noted that the number of newly listed companies had been decreasing in recent years but it expressed optimism that with extra effort, the actual number could be higher than what was being targeted, Nurhaida added.
A total of 16 IPOs were recorded last year, which was slightly better than the 15 in 2015. The number of companies going public stood at 30 and 20 in 2013 and 2014, respectively.
"We will work with Kadin [Indonesian Chamber of Commerce and Industry] to approach prospective companies and encourage SOEs [state-owned enterprises] to go public," she said, adding that her office would also approach private companies that won the OJK's annual report award to list their shares at the bourse as they already practized good governance.
The Indonesia Stock Exchange (IDX) is struggling to lure more private companies to float their shares on the local stock market. Previously, IDX president director Tito Sulistio paid a visit to Finance Minister Sri Mulyani Indrawati, asking the government to help encourage 52 companies that listed their shares overseas to also do so on the local bourse. (bbn)
