The Indonesia Stock Exchange (IDX) is targeting several major companies to go public under its Lighthouse IPO program throughout 2025.
As of Monday, June 23, 2025, three companies have officially listed − PT Raharja Energi Cepu (RATU), PT Bangun Kosambi Sukses (CBDK), and PT Yupi Indo Jelly Gum (YUPI).
IDX Director of Company Valuation I Gede Nyoman Yetna confirmed that two more companies are expected to join the program soon.
"IDX is targeting five Lighthouse IPOs in 2025. Of those, three have already been listed − RATU, CBDK, and YUPI," Nyoman said in a statement released on Monday, June 26, 2025.
The Lighthouse IPO program is reserved for companies with a market capitalization above Rp3 trillion (US$183.3 million) and a minimum public float of 15 percent. The initiative aims to deepen Indonesia’s capital markets and enhance the country’s appeal to global investors.
While often associated with state-owned enterprises (SOEs), the IDX is also actively courting large private companies, regional-owned enterprises (ROEs), and business groups to participate.
“We’re conducting strategic studies to understand the interest of large firms in IPOs, identify the challenges they face, and provide regulatory recommendations to improve market infrastructure,” Nyoman said.
To support this, IDX has established a dedicated unit to guide large-scale companies through the listing process. Assistance is provided through workshops, coaching clinics, one-on-one consultations, and networking events.
“These initiatives aim to ease company access to the capital market ecosystem and accelerate their transition into public entities,” Nyoman cited.
On the subject of Danantara’s role as a liquidity provider, Nyoman noted that current regulations only allow IDX members to act in that capacity. Nonetheless, he welcomed Danantara’s involvement, particularly in encouraging SOE subsidiaries listed on the exchange to serve as liquidity providers.
“Liquidity providers like this have the potential to deepen the market, enhance stock liquidity, and build investor trust,” he said.
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