IDX Highlights Underwriter Performance Impact On IPO Company Shares The Price Drops

Director of the Assessment of the Indonesia Stock Exchange Company (IDX), I Gede Nyoman Yetna. (Photo: Doc. Antara)

JAKARTA - Director of Corporate Assessment of the Indonesia Stock Exchange (IDX), I Gede Nyoman Yetna revealed that his party is highlighting the underwriter's or underwriter's performance. This is not without reason. Nyoman explained that the underwriter position is very strategic as a promoter of the company that will make its initial listing on the stock exchange. "Of course, at this time we are aware that what we are doing is the first of course we will look again and conduct an assessment of the performance of underwriter, "he said, met at the IDX Building, Wednesday, March 8. Nyoman added that at this time his party had already summoned an underwriter who felt it was necessary to be invited to communicate regarding the company's selection process before being listed on the stock exchange. He continued, the IDX will also hold a workshop for underwriters. "We will hold a periodic and comprehensive workshop reminding them what important things they need to know," Nyoman continued., underwriters are also asked to make reports regularly so that they can be monitored by the IDX. Nyoman's statement follows the statement by the Chairman of the BPKN RI, Rizal E Halim, who highlighted the listing of new shares aka IPO on the IDX whose quality has decreased so that some new shares actually collapsed to the lowest level even though they were only listed on the trading board. I see indications of capital market crimes that have the potential to harm the community explained Rizal in an official statement quoted Wednesday 8 March. Rizal said the terms white collar crime' and corporate crime are one of the crimes of the capital market in the form of stock price manipulation and this is contrary to Law (UU) No. 8 of 1995 concerning the Capital Market, in particular articles 91 and 92. Article 91 states that each party is prohibited from taking action, either directly or indirectly, with the aim of creating a pseudo or misleading picture of trade activities, market conditions, or price of securities. The stock exchange. "If this is true, it will certainly become a stumbling block to the self-regulation organization efforts by namely the Indonesia Stock Exchange (IDX), PT Kustodian Sentral Efek Indonesia (KSEI), PT Kliring Penjaminan Efek Indonesia (KPEI) to promote the capital market as a profitable investment platform. This is certainly also a test of the credibility of the Financial Services Authority (OJK) as a capital market referee," concluded Rizal.