JAKARTA - The Financial Services Authority (OJK) opens opportunities for state-owned enterprises (SOEs) and their subsidiaries to re-list on the stock market through strengthening the capital market deepening program.
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This step was taken following the absence of an IPO from state-owned enterprises in the last two years.
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The Head of the Capital Market, Derivatives Finance and Carbon Exchange Supervisory Authority of the OJK, Inarno Djajadi, said that the involvement of SOEs in the capital market has a strategic role in strengthening liquidity and expanding the diversification of investment instruments for investors.
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"OJK understands that the participation of SOEs and their subsidiaries in the capital market has a strategic role in strengthening liquidity and diversifying investment instruments," Inarno said in an official statement, Sunday, December 14.
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Inarno explained that OJK is continuously carrying out a capital market deepening program with Self Regulatory Organization (SRO) and market participants, including securities companies, to strengthen the national capital market ecosystem.
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Through this program, continued Inarno, OJK is also actively carrying out socialization and discussions with companies that are considered ready to conduct initial public offerings or initial public offerings (IPO), including SOEs and their subsidiaries.
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"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," said Inarno.
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However, OJK emphasized that the decision to conduct an IPO is entirely the consideration and business policy of each company, including SOEs.
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Inarno emphasized that OJK was not in a position to determine or impose the decision.
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"The decision to conduct an IPO is entirely the consideration and business policy of each company," he said.
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In addition, OJK ensures that its role remains focused on supervision so that every public offering process runs professionally, transparently, and upholds the protection of investor interests.
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"The role of the OJK is to ensure that the process runs professionally, transparently, and protects investor interests," concluded Inarno.
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