The Jakarta Post
Indonesia Stock Exchange (IDX) has handled fewer initial public offerings (IPOs) in 2019 as it welcomed 55 newcomers to the bourse, down from 57 firms listing last year.
However, that was still a good achievement compared to other stock exchanges in the Southeast Asian region, IDX president director Inarno Djajadi said.
"In terms of IPOs, Indonesia is the number one country in ASEAN and number seven in the world this year," Inarno told reporters at a press conference in Jakarta on Monday.
IDX data show that, as of Friday, the Indonesian bourse topped the IPO list in Southeast Asia, followed by Thailand with 30 IPOs, Malaysia with 29 and Singapore with 11.
In terms of IPO value, most of the companies were seeking less than Rp 1 trillion in funds. The biggest IPO was that of feminine care and diaper producer Uni-Charm Indonesia, which generated Rp 1.25 trillion from selling shares to the public in December.
As a result, the bourse only recorded a total of Rp 14.78 trillion in IPO fundraising, lower than last year’s Rp 16 trillion.
PT Galva Technologies was the last company to go public this year, gaining Rp 64.7 billion from its listing.
On Monday, the Jakarta Composite Index (JCI), IDX’s main gauge, ended its last trading day of the year in the red, falling 0.47 percent to 6,299.54 points. However, the index recorded a slight gain of 1.7 percent throughout this year versus a 2.54 percent contraction in 2018.
Finance Minister Sri Mulyani Indrawati lauded the achievement, which was reached amid a cooling domestic economy and global uncertainties.
“This year has not been so kind to us, so this achievement was achieved through extra effort from all stakeholders,” she said during the IDX closing ceremony in Jakarta. (mfp)