JAKARTA - The Financial Services Authority (OJK) considers that 2026 has the potential to be a more active period for fundraising in the Indonesian capital market.
This is in line with the prospect of domestic economic growth remaining positive, macroeconomic stability, and improving liquidity in the financial system.
"This condition has the potential to encourage an increase in emission activities, both through IPOs, bonds, and other corporate actions," said Head of Capital Market, Derivatives and Carbon Exchange Supervision, OJK Inarno Djajadi, quoted by Antara.
To support this, Inarno added, OJK is also continuing to study and develop capital market instruments, including gold-based exchange traded funds (ETF), as part of efforts to deepen the market and expand investment options.
The determination of the 2026 fund-raising target will take into account global and domestic dynamics, while still prioritizing the quality of sustainable capital market growth.
Regarding the lack of state-owned enterprises and their subsidiaries that have carried out initial public offerings (IPO), Inarno said that his party understands that the participation of state-owned enterprises and their subsidiaries in the capital market has a strategic role in strengthening liquidity and diversifying investment instruments.
For this reason, OJK is continuously implementing market deepening programs with self-regulatory organizations (SRO) and capital market participants, such as securities companies.
Through this program, OJK carries out socialization and discussions with companies that are ready to conduct IPOs, including SOEs and their subsidiaries, to increase understanding of the public offering process and identify the obstacles faced.
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"However, the decision to conduct an IPO is entirely the consideration and business policy of each company. The role of the OJK is to ensure that the process runs professionally, transparently, and protects investor interests," said Inarno.
In developing the capital market in 2025, Inarno emphasized that OJK adjusted the focus of policy, from merely pursuing the value of fund collection to strengthening the quality and liquidity of the stock market.
The target for the realization of fund collection in 2025 which is IDR 220 trillion has also been exceeded. As of the end of November 2025 (year to date/ytd), the value of the public offering has reached IDR 238.68 trillion, including by 18 new issuers who have raised funds worth IDR 13.30 trillion.
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