OJK Targets IDR 200 Trillion Capital Market Fund Collection In The 2024 Election Year

Chief Executive of Capital Market Supervisory, Derivative Finance, and OJK Carbon Exchange Inarno Djajadi. (Photo: YouTube screenshot)

The Financial Services Authority (OJK) targets to raise funds in the capital market in 2024 of IDR 175 trillion to IDR 200 trillion supported by the General Election (Pemilu) factor, global and domestic economic growth.

Chief Executive of the OJK Capital Market, Derivative Finance and Carbon Exchange Supervisory Inarno Djajadi said the target was in line with optimism next year, but it remains with a conservative attitude so that the target of raising funds in the capital market in 2024 is the same as in 2023.

"Therefore, in targeting next year, our target is the same as last year, between Rp175 trillion to Rp200 trillion," said Inarno in the virtual November 2023 RDK, Monday, December 4.

Inarno explained that the OJK's view was seen from the predictions of the IMF and World Bank which revised it to below the global economic growth target and the Indonesian government in 2024 also estimated that national economic growth would be slower at 5.2 percent compared to 2023 at 5.3 percent.

As of November 2023, Inarno said that the raising of funds in the capital market had reached Rp230.59 trillion with 74 new issuers listed conducting initial public offering (IPO).

"This fundraising as of November has met the target achievement in 2023," he said.

Inarno explained that the raising of funds in the capital market until November 2023 came from 74 companies conducting initial public offerings with a total emission value of IDR 52.99 trillion.

Then, the total set of funds in the capital market was also contributed by 21 Limited Public Offerings (PUT) with a total emission value of IDR 50.99 trillion, and as many as 11 issuances of Debt-Prone Effects or Sukuk recorded a total emission value of IDR 10.47 trillion, and the Sustainable Public Offering (PUB) Phase I, II and so on had a total emission value of IDR 116.14 trillion.

Meanwhile, there are still 96 public offering pipelines with an estimated indicative value of IDR 41.11 trillion, including the IPO plan by 64 new issuers.

"Five of the 64 new issuers have an indication value of more than IDR 500 billion. This is an initial indication for 2024, although we still have to look at global conditions," he said.

Meanwhile, the average daily transaction value (RNTH) is targeted at IDR 12.25 trillion per day. This target is an increase when compared to the RNTH 2023 target at the level of IDR 10.75 trillion.

As for November 2023, RNTH was recorded at IDR 10.54 trillion (ytd), this figure compared to October 2023 amounting to IDR 10.48 trillion.