OJK Affirms No Suspension On IPO

Illustration (Photo: Doc Antara)

JAKARTA - The Financial Services Authority (OJK) emphasizes that currently there is no moratorium or suspension of the initial public offering (IPO), mainly related to gratification cases in the Indonesian capital market.

The Chief Executive of the Capital Market Supervisory, Derivative Finance and OJK Carbon Exchange, Inarno Djajadi, said that his party was still in the process of giving effective statements to potential issuers who wanted to list their shares on the Indonesia Stock Exchange.

"Until now there is no IPO moratorium, we are still carrying out the process as usual, even though there is a layoff process," he said at the OJK RDKB press conference Friday, September 6.

Inarno said that if the registration documents or statements submitted by the prospective issuers were complete and in accordance with existing regulations, the OJK would not hinder the giving of effective statements to prospective issuers.

"So we emphasize that the process is running as usual," added Inarno.

For information, the domestic IPO market is still not lively, where until now, there have been no prospective issuers conducting public offerings on the IDX.

Launching the e-ipo page, PT Esta Indonesia Tbk (NEST) is the last issuer listed on the stock exchange. The company listed its shares on August 8, 2024. Meanwhile, throughout 2024, 34 issuers have listed their shares on the IDX.

To date, 23 companies will conduct IPOs and as of August 30, 2024, 34 companies have registered shares on the Indonesia Stock Exchange (IDX) with funds raised of IDR 5.15 trillion.

Where there is 1 company that is included in the small-scale asset category or has a total asset value of less than IDR 50 billion, as many as 17 companies are included in the medium-scale asset category or between IDR 50 billion to IDR 250 billion. Also, 5 companies have large-scale assets or more than IDR 250 billion.

Meanwhile, from the cyclic consumer sector, non-cyclical consumer sectors and the energy sector, there are 4 companies in the IPO pipeline and there are 3 companies queuing for the IPO from the raw material sector and the technology sector respectively.

Furthermore, there are 3 companies from the raw material sector, 2 companies from the infrastructure sector and 2 other companies from the industrial sector. Meanwhile, from the health sector, the financial sector, the technology sector and the transportation sector, there are 1 company each.