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Fed interest rate hike plan won't affect IPO target: IDX
Indonesia Stock Exchange (IDX) president director Tito Sulistio believes the US Federal Reserve’s plan to raise interest rates will not affect the desire of Indonesian companies to go public.
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Indonesia Stock Exchange (IDX) president director Tito Sulistio talks to journalists in Jakarta on Friday. (JP/Ivany Atina Arbi)
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ndonesia Stock Exchange (IDX) president director Tito Sulistio believes the US Federal Reserve’s plan to raise interest rates will not affect the desire of Indonesian companies to go public.
"The effect won’t be that big because the condition has been predicted and prepared for by the companies. Our benchmark interest rate is also quite high, at around 6 percent," he said at the Hard Rock Hotel in Badung, Bali, on Saturday.
Tito is sticking to his prediction that 25 companies will go public this year despite the fact that only 11 companies have gone public as of September.
“Hopefully more than 20 companies will go public,” he said, adding that the IDX would declare its accomplishments on Oct. 22 during the General Shareholders Meeting.
Tito also said the tax amnesty program would draw some of the repatriated money into the capital market. (ags)
