IDX Reveals 3 Jumbo Issuers Will IPO In The Remaining 2024

IDX (Photo: Antara)

LABUAN BAJO - Indonesia Stock Exchange (IDX) revealed that there will be three prospective issuers who will become light houses in the Initial Public Offering (IPO) pipeline in the remainder of 2024.

President Director of the Indonesia Stock Exchange, Iman Rachman said the three companies were among the 28 companies registered in the IPO pipeline until October 25, 2024.

"Some companies that we call light houses, God willing, will enter the November-December period," said Iman at the Capital Market Journalist Workshop, Thursday, October 31.

Iman conveyed that the three issuers who will IPO have the characteristics of the issuer IPO light house and his party believes that the issuer will be listed on the Indonesian capital market.

"The target of 3 light houses where the market capitalization is at least IDR 3 trillion and 20 percent free flow can be recorded," he said.

For information, the IDX categorizes companies with large market capitalization, or a minimum of IDR 3 trillion as a light house company. The company also owns a minimum of 15 percent of public shares.

Previously, IDX Director of Corporate Assessment I Gede Nyoman Yetna said in recent months that there would be two light houses in the second semester of 2024.

The light house company comes from two sectors, namely the recreation and real estate sectors.

"One Candidate for a listed company that is included in the lighthouse category in the pipeline which comes from the residential & sport facilities sector. One lighthouse company said it would update its documents (real estate)," he said some time ago.

As for year to date (ytd), IDX revealed that 36 companies have been recorded on the Indonesia stock exchange. So, currently, the IDX has recorded 938 companies.