Six companies ready for IPO in second semester

JAKARTA (TheInsiderStories) - The Indonesia Stock Exchange (IDX) reveals that six companies have registered to sell shares via initial public offering (IPO) in second semester of 2015, adding to the 12 firms that have already listed on the IDX so far.

The IDX has set a target of 32 companies to public this year, however given that only 12 firms have realized their IPOs so far, coupled with financial market turbulence, the target may not be achieved.

The companies that have listed their shares on the IDX until August are as follows: PT Bank Harda Internasional Tbk (IDX: BBHI), PT Binakary Jaya Abadi Tbk (IDX: BIKA), PT Anabatic Technologies Tbk (IDX: ATIC), PT Garuda Metalindo Tbk (IDX: BOLT), Bukaka Teknik Utama Tbk (IDX: BUKK), PT Merdeka Copper Gold Tbk (IDX: MDKA), PT Mega Manunggal Property Tbk (IDX: MMLP), PT Puradelta Lestari Tbk (IDX: DMAS), PT PP Property Tbk (IDX: PPRO), PT Mitra Keluarga Karyasehat Tbk (IDX: MIKA) and PT Bank Yudha Bhakti Tbk (IDX: BBYB).

Samsul Hidayat, the director of trading and membership at the IDX expressed his optimism about the IDX’ goal. He said he remains confident that local companies understood the long-term benefits of participating in the capital market, despite the current turbulence in the stock market and global market.

The companies that are planning to go for IPO in the second semester are food & beverage producer PT Kino Corporation, property developer PT Ciputra Residence, internet provider PT Internux, insurance firm PT Victoria Insurance, telecommunication equipment and supplier PT Mitra Komunikasi Nusantara and PT Vallianz Offshore Maritim, which provides supporting services for offshore oil and gas companies.

Kino is reportedly eyeing to raise up to $150 million in proceeds from its IPO. Deutsche Bank is among the banks that will help arrange the IPO.

Ciputra Residence, a unit of property conglomerate Ciputra Group, has appointed Mandiri Sekuritas and CIMB Securities as underwriters for its share sale. The company plans to sell 20 percent of its shares, targeting to raise Rp1 trillion in the process.

Internux, the Lippo-Group-affiliated operator of the Bolt mobile broadband service, plans to sell upto 25 percent stake in the company and eyeing Rp750 billion in proceeds. Victoria Insurance, meanwhile, also reportedly plans to sell the same stake size and is targeting to raises Rp40 billion.

Vallianz Offshore Maritim, a unit of Singapore-listed Vallianz Holding Ltd plans to sell up to 20 percent stakes in an IPO.

Chief Executive for capital Market of Financial Services Authority Nurhaida, said eight companies are also planning to raises funds from stock market in the second semester of the year with total value Rp14.39 trillion. Three companies has proposed to get permit for raising funds with total value of Rp161.47 billion, rights issue Rp12.73 trillion from five firms and bonds issuance about Rp1.5 trillion. (*)