Three Indonesian Unicorn-Decacorn Technology Companies Will IPO, Who Will Follow Bukalapak?

Illustration. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) brings good news for capital market investors who want to buy initial public offerings (IPOs) from start-up companies or startups. The reason is, there will be three technology companies with unicorn and decacorn status that will be listed on the Indonesia Stock Exchange (IDX).

OJK Capital Market Supervisory Chief Executive Hoesen said that the total asset valuation of the three startups was above US$21 billion or around Rp. 311.75 trillion (assuming an exchange rate of Rp. 14,500 per dollar).

"Currently, there are several startup companies in Indonesia planning to conduct IPOs. The three largest conglomerate technology companies are unicorn and decacorn with a valuation of 21 billion dollars. This is based on the data we got," he said at the 2021 Investor Daily Summit, Thursday, July 15.

But unfortunately, the OJK did not specify the names of the startup companies that were ready for an IPO on the IDX. Even so, unicorn and decacorn start-ups that will release shares to the public are considered to have an impact on the Indonesian capital market.

Furthermore, Hoesen said the entry of unicorns and decacorns will also increase market capitalization and attract investors, including foreign investors.

"Entering a technology company is predicted to stimulate trading on the domestic stock exchange," he said.

Hoesen assesses that currently technology companies are slowly starting to decorate issuers with the largest market capitalization values (big caps) on the IDX.

"Currently, the market cap of all technology issuers is still 5 percent of all issuers on the IDX. It is possible that issuers in the technology sector will become the top leading in the Indonesian capital market," he said.

For information, the startup in Indonesia with the current decacorn status is Gojek. Meanwhile, the unicorns are Tokopedia, Bukalapak, OVO, Bukalapak, and J&T Express.

Bukalapak has confirmed its IPO and will go public on the stock exchange on August 6, 2021. Bukalapak targets to raise IDR 21.9 trillion in funds from this action.

Number of capital market investors

Hoesen said the number of capital market investors as of June 2002 1 reached 5.6 million SID or single investor identification. This figure shows an increase of 44.45 percent compared to the end of 2020 as many as 3.88 million people.

Furthermore, based on data from the Indonesian Central Securities Depository (KSEI), mutual fund investors dominate the number of capital market investors, namely 4.93 million people. Meanwhile, mutual fund investors showed an increase of up to 55.27 percent compared to the end of 2020 as many as 3.17 million people.

Meanwhile, the number of stock investors reached 2.51 million SID, an increase of 48.32 percent when compared to the end of 2020 as many as 1.69 million people. For investment in state securities (SBN) reached 538.78 thousand people, an increase of 17.03 percent from the end of 2020.

Meanwhile, in terms of gender, men dominate the number of capital market investors as much as 61.87 percent or with an asset value of IDR 623.72 trillion. While women control 38.13 percent with an asset value of IDR 202.82 trillion.

When viewed from the age of investors aged 30 years and under dominate the number of investors or as much as 58.39 percent. While investors aged 31 to 40 years reached 21.61 percent and the rest came from investors aged 41 to 50 years, 51 to 60 years and above 60 years.

Meanwhile, when viewed from the type of work, both civil servants and private employees dominate the number of capital market investors, namely 33.98 percent. Then, 27.73 percent of students, 13.59 percent of entrepreneurs and 4.64 percent of housewives.