Stock Exchange Makes Us Curious! They Said There Is One SOE Affiliate Company That Will Go Public This Year

JAKARTA - After PT Adhi Commuter Properti Tbk (ADCP), the Indonesia Stock Exchange has pocketed one SOE affiliate name that will become a public company this year. But its identity is still a question mark.

This was conveyed by the Director of the Indonesia Stock Exchange (BEI) I Gede Nyoman Yetna, Tuesday, July 19. Nyoman said the SOE affiliate in question was already in the queue list (pipline).

"We hope that many SOEs and subsidiaries will take advantage of the Indonesian capital market and conduct IPOs this year and next year," Nyoman hoped.

Nyoman emphasized that the IDX welcomes SOEs and subsidiaries to be able to conduct an IPO and become a listed company on the IDX.

"We are also happy to provide support to SOEs and subsidiaries to obtain information related to the IPO with a series of educational/assistance activities to the management and company team," said Nyoman.

Last May, Nyoman also revealed that several state-owned companies and SOE subsidiaries had met the IDX to discuss and prepare plans for an IPO in the near future.

According to Nyoman, the news will be encouraging if these state-owned companies go public soon. Even Nyoman hopes that these state-owned companies can make Indonesia's capital market more vibrant.

For information, this year, IDX has only listed shares of a BUMN affiliate, namely Adhi Commuter Properti which is an affiliate of PT Adhi Karya (Persero) Tbk. The shares with the ADCP code were listed on February 23, 2022.

At that time, ADCP's shares were listed on the main trading board at a price of IDR 130 per share. As for the number of shares released as much as 2.22 billion, making Adhi Commuter reap funds of IDR 288.89 billion.

Meanwhile, last year, to be precise on November 22, 2021, the affiliate of the SOE whose IPO was PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel which is a subsidiary of PT Telekomunikasi Indonesia (Persero) Tbk.