A total of 42 companies are planning to get on the IPO list on the Indonesia Stock Exchange (IDX) with a total fund of IDR 32.7 trillion (US$ 2.2 billion) as of 2023.
Out of the 42 companies, three companies categorized as small-scale companies with assets less than IDR 50 billion and 26 companies categorized as medium-scale companies with assets ranging between IDR 50 billion to IDR 250 billion, and 13 companies categorized as large-scale companies with assets more than IDR 250 billion.
The 42 companies include: five companies in basic industrial sectors, seven companies in non-primary consumer goods sectors, five companies in primary consumer goods sectors, three companies in energy sectors, two companies in financial sectors, one company in health sector, four companies in industrial sectors, three companies in infrastructure sectors, five companies in property and real estate sectors, four compnies in technology sectors, three companies in transportation and logistics sectors.
I Gede Nyoman Yetna Setia, IDX Director of Corporate Valuation, said that as of May 12, 2023, there were already 40 companies that conducted IPOs.
List of companies conducting IPO
This week there are six companies that have conducted an IPO in IDX. The companies are:
- PT King Tire Indonesia Tbk (TYRE);
- PT Era Media Sejahtera Tbk (DOOH);
- PT Information Technology Indonesia Tbk (JATI);
- PT Tripar Multivision Plus Tbk (RAAM);
- PT MPX Logistics International Tbk (MPXL); and
- PT Sarana Mitra Lebar Tbk (SMIL).
Meanwhile, the acquisition of the largest IPO funds in Indonesia was led by:
- PT Bukalapak.com Tbk (BUKA) with a value of IDR 21.9 trillion;
- PT Dayamitra Telekomunikasi Tbk (MTEL) worth 18.79 trillion;
- PT GoTo Gojek Tokopedia Tbk (GOTO) worth IDR 13.72 trillion
- ;PT Adaro Energy Indonesia Tbk (ADRO) worth IDR 12.24 trillion; and
- PT Pertamina Geothermal Energy Tbk (PGEO) worth IDR 9.05 trillion.
Response from analysts
According to Herditya Wicaksana, an analyst from MNC Sekuritas, the Indonesian IPO market will remain strong despite less-than-ideal global conditions because of the Russia-Ukraine war.
Meanwhile, Indonesia’s economic growth is expected to improve, and the people’s mobility is expected to return to normal with their purchasing power improving and the economy continues to grow.
Fajar Dwi Alfian, Investment Analyst from Infovesta, the market will respond positively to this business diversity because it can be an alternative for diversifying stocks for investors.
