JAKARTA (TheInsiderStories) – Indonesia Stock Exchange (IDX) targeting around 30 companies will run corporate actions in 2021 such as an initial public offering, corporate bonds, and other instruments like exchange traded fund, real estate investment funds, also asset backed securities. Until this month, 46 issuers has listed their shares at the local bourse.
For this year, said director of corporate valuation, I Gede Nyoman Yetna Setia in a virtual press conference, there were 17 companies has planned to list their shares at IDX. The public offering is expected to take place in November-December 2020.
In detail, of the 17 companies, six involved in trade, service and investment sectors. Then, three in the property, real estate and building construction sectors. Two entities from the consumer goods industry sector, two in various industrial and plantation sectors, and two from the infrastructure, utilities and transportation sectors also in the financial sector.
In the past month, five companies have listed their shares namely PT Planet Properindo Jaya Tbk (IDX: PLAN), PT Morenzo Abadi Perkasa Tbk (IDX: ENZO), PT Grand House Mulia Tbk (IDX: HOMI), PT Rockfields Properti Indonesia Tbk (IDX: ROCK), and PT Puri Global Sukses Tbk (IDX: PURI).
There are also postponed their IPO such as PT Lion Mentari Airlines and PT Amman Mineral Nusa Tenggara. In addition, said Yetna, there are also nine corporations to releases local bond or SUKUK. Next year, IDX is also targeting the average daily transaction values to reach Rp8.5 trillion (US$578.32 million).
In order to support the fund raising through the capital market, PT Indonesia Stock Exchange (IDX) eased the requirements of debt securities listing. The new regulation will take effect as of May 20, said the agency on Thursday (05/20).
The rule related to the simplification of recording requirements, which will still pay attention to investor protection aspects. Then regulated the recording of debt securities by small and medium companies as well as the municipal bonds. The IDX also changes the provisions on the amount and maximum value of recording fees, time and payment mechanism.
The bourse also provides incentives on the listing fees for the debt securities issued by small and medium companies, green bonds, regional bonds, and for listed companies that register more than one type of debt, SUKUK and shares. In addition, IDX stipulates an additional incentives for the registration of municipal bonds by giving an annual discounting 50 percent fee in five years period from the enactment of the decree.
The agency also applies SUKUK registration provisions until the issuance of special regulations. This rule is except for the rate of sharia bond listing fees, which are lower than the listing fee of debt securities.
It also regulated the transitional period for the imposition of fees for debt securities that have been recorded prior to the enactment of this rule and new issuances that have obtained preliminary agreements before the date of enactment of this rule.
For the ongoing public offering of the second and subsequent debt securities which have submitted an additional information to the IDX before of the enactment of the new rule will continue to use the recording fee rates stipulated in the existing regulation, which is proportionally calculated until December 2020.
“This regulation change is expected to expand access to funding in the capital market and encourage more debt issuers. In addition, relaxation is also expected to provide more diverse investment options for investors,” said the statement.
In this year, IDX is targeting 76 companies will offer various instruments, consist of share, corporate bond, asset-backed securities, exchange-traded fund, real estate investment trust and infrastructure investment fund.
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