IDX Targets More Than 3 Jumbo Companies Will IPO Until The End Of 2024

IDX (Photo: Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) revealed that jumbo companies or lighthouse companies are targeted to be more than three companies that will conduct an initial public offering (IPO).

"So our target lighthouse is at least more than three this year," said IDX Director of Corporate Assessment I Gede Nyoman Yetna, at the IDX Main Hall, Monday, November 11.

Previously, the President Director of the Indonesia Stock Exchange, Iman Rachman, said that 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.

The company, which is categorized as a lighthouse company, will have a market capitalization value of at least IDR 3 trillion and the number of outstanding shares reaches 20 percent of the company's total shares.

On the other hand, the IDX noted that there are 28 prospective issuers who plan to hold an IPO until October 25, 2024. Based on the economic sector, the companies that are most included in the IPO pipeline come from the non-primer and energy consumer sector, each of which is five companies.

Referring to the classification of company assets in the Financial Services Authority Regulation (POJK) Number 53/POJK.04/2017, there are two small-scale asset companies or below IDR 50 billion and ten medium-scale asset companies between IDR 50 billion to IDR 250 billion.

A total of 17 companies queuing for the IPO have an asset value of more than IDR 250 billion or are classified as large assets. The following is the number of issuers queuing for an IPO based on their sectors:

3 companies from the basic material sector 2 companies from the primary consumer sector 5 companies from the non-primary consumer sector 5 companies from the energy sector 3 companies from the financial sector3 companies from the health sector 3 companies from the industrial sector 1 company from the infrastructure sector 3 companies from the property sector and real estate 1 company from the transportation and logistics sector