TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Indonesia tops IPO leaderboard in Southeast Asia
Forty-four companies have gone public in Jakarta in this year’s first half, a report by audit and consulting firm Deloitte reveals. That is more than in the other countries of the region combined.
Change Size
This undated photograph shows Merdeka Battery Materials' smelting facilities in Sulawesi. (Merdeka Battery Materials/-)
J
akarta’s bourse accounted for more than half of all initial public offerings (IPO) in Southeast Asia in the first half of this year.
Forty-four of the 85 IPOs conducted in the region in the first six months of 2023 took place in Indonesia, according to a report from audit and consulting firm Deloitte.
The Indonesia Stock Exchange (IDX) helped companies raise 70 percent of the region’s total IPO proceeds over the same period, says the report published on Wednesday.
The biggest IDX listings were those of nickel miner PT Trimegah Bangun Persada, which raised $683 million, PT Merdeka Battery Materials, which netted $627 million, and geothermal power plant operator PT Pertamina Geothermal Energy, which raised $594 million. Fourth-placed automotive industry player PT VKTR Teknologi Mobilitas raised a significantly smaller amount of $58 million.
Southeast Asia’s IPO market increased slightly this year, with total proceeds rising from $3.1 billion raised through 73 listings in the first half of 2022 to $3.3 billion in this year’s first half.
Indonesia’s downstream mineral industries and the country’s budding electric vehicle (EV) supply chain have attracted much domestic and foreign capital.
Read also: Indonesian EV early adopters face long road ahead
