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Jakarta Post

16 companies to go public before end of 2019: IDX

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Wed, December 4, 2019   /   05:10 pm
16 companies to go public before end of 2019: IDX Brokers monitor the Jakarta Composite Index trading in Jakarta in this file photo. (JP/Nurhayati)

The Indonesia Stock Exchange (IDX) expects to see 16 more companies list their shares on the local bourse before the end of this year, a director has said.

IDX assessment director I Gede Nyoman Yetna said on Wednesday that out of the 33 companies that are included in the bourse’s initial public offering (IPO) pipeline, around half are expected to list their shares in the IDX before the year’s end.

He said one of the companies would also be listed in the IDX’s acceleration board for small and medium enterprises (SMEs) “very soon”, but declined to go into detail about the company.

“With the 16 new listings, we expect to have 65 to 70 companies list their shares by the end of the year, exceeding last year’s achievement of 57 new listings,” Nyoman told the press in Jakarta, adding that the remaining 17 companies are expected to go public next year.

As many as 49 companies have listed their shares on the bourse so far this year, the latest being seaweed product manufacturer PT Asia Sejahtera Mina, raised Rp 27.5 billion (US$1.947 million) in fresh funds from the IPO.

Diaper and feminine care producer PT Uni-Charm Indonesia is in the process of offering its shares to the public and raise between Rp 1.16 trillion and Rp 1.5 trillion in fresh funds.