PT Indokripto Koin Semesta (ticker: COIN) has secured approval from Indonesia’s Financial Services Authority (OJK) to launch its initial public offering (IPO), marking a milestone as the first crypto exchange company to go public on the Indonesian stock market.

In its latest prospectus released Tuesday, July 1, 2025, COIN announced a final IPO price of Rp100 per share, the lower bound of its book building range of Rp100–Rp105. The book building period took place from June 23 to June 25, 2025.

"The IPO pricing was determined based on negotiations between shareholders, the company, and the underwriters," the management stated in the prospectus.

The company plans to issue 2.2 billion shares, equivalent to 15 percent of its total issued and paid-up capital, aiming to raise Rp220 billion in fresh capital. At the IPO price, COIN’s price-to-earnings ratio (PER) stands at 34.32 times, while its price-to-book value (PBV) is 1.14 times.

The IPO proceeds, net of issuance costs, will be allocated entirely to two subsidiaries. Approximately 85 percent will go to PT Central Finansial X (CFX) to support operational working capital needs, while the remaining funds will be injected into PT Indokripto Custodian Center (ICC) for similar purposes.

Indokripto is a holding company engaged in crypto asset exchanges, futures trading, and crypto asset custody services through its subsidiaries. CFX, its main operational arm, currently has 31 registered exchange members, including 19 licensed crypto traders certified by the Commodity Futures Trading Regulatory Agency (Bappebti) and 7 licensed futures brokers.

Though the full IPO prospectus has yet to be made public, the company’s summary highlights its ambition to use the IPO to further expand Indonesia’s crypto industry. Indokripto and its subsidiaries will remain focused on their core businesses: crypto exchanges, futures trading platforms, and custodial services. They also emphasize their commitment to regulatory compliance, consumer protection, and market innovation.

COIN sees strong potential in Indonesia's crypto sector, fueled by a growing young middle class, increasing disposable income, and rising demand for diversified investments. Public interest in globally accessible assets, combined with Indonesia’s history of high inflation and currency depreciation, further supports this growth. Additionally, investor-friendly regulations continue to foster a favorable environment for the sector.