Three Startup Companies Ready to Conduct IPO

Insight: Indonesia' Digital Business Needs Guaranteed by Adequate Regulation
Two Indonesian startups raised seed funding from their investors, the companies announced today (05/27) - Photo: Special
JAKARTA (TheInsiderStories) – Indonesia Stock Exchange (IDX) claims there are three new startup companies that will conduct an initial public offering (IPO) this year. There were two startup companies had been listed at IDX, PT Yeloo Integra Data Net Tbk (IDX:YELO) and PT Kioson Komersial Indonesia Tbk (IDX:KIOS).

“We also have built 69 startups through IDX Incubators in three cities,” Director Appraisal of IDX I Gede Nyoman Yetna told reporters in Jakarta on Wednesday (03/20).

The bourse also approached several unicorns or startups which have a valuation of over US$1 billion to list on the stock exchange. Some unicorns that have been approached are PT Aplikasi Karya Anak Bangsa (GO-JEK) has met IDX on March 3, Tokopedia, which also met on Feb. 19, 2016 and Bukalapak in the same year.

“We are waiting for them, because the IPO is a strategic decision. From our side, we will ensure the availability of infrastructure in the form of regulatory support to make it easier for them to be listed on the stock exchange without any obstacles, “he said.

According to Yetna, the process of unicorns to be listed on IDX is a long process due to a consolidation with the shareholders. He said, that the encouragement to startup companies conducting IPOs is one way to reach the target of the number of listed companies as much as 57 this year.

Whereas to date, the number of companies that have entered the IDX pipeline to be listed on the exchange are as many as 14 companies with seven companies recorded until March 20, 2019.

Another ways IDX does to increase the number of listed companies are to increase the awareness of companies in Indonesia to hit the public capital market, building a synergy with various institutions in Indonesia and engaging the Financial Services Authority and capital market to enhance businessman awareness to the market.

Not only in terms of the number of listed companies, IDX will also increase the number of share investors by 25 percent of this year. While from the 2017 period to 2018, the number of stock investors has reached 223,749 investors, an increase of 36 percent in the last one year. The growth in the number of investors are dominated by millennials or the age range of 18-30 years which has increased by more than 100 percent in the last two years.

Meanwhile, in 2018, as many as 58 companies have conducted IPOs with fund raising of Rp16.42 trillion. The companies that conduct the IPO, at most or 19 companies are companies engaged in trade, services and investment.
IDX previously mentioned there were 13 companies already entered the bourse in the beginning of 2019, namely PT Meta Epsi Tbk (IDX: MAGP), PT Sentra Food Indonesia Tbk (IDX: FOOD), PT Estika Tata Tiara Tbk (IDX: BEEF), PT Pollux Investasi International Tvk (IDX: POLI), and PT Citra Putra Realty Tbk (IDX: CLAY).
Others, PT Bersatu Sejahtera Mandiri, PT Berjaya Berjaya Trans, PT Arkha Jayanti Persada, PT Menteng Heritage Realty, PT Capri Nusa Satu Properti, PT Nusantara Properti International, PT DMS Propertindo and PT Envy Technologies Indonesia.
Besides the 13 companies, there are other companies that also plan an IPO this year, namely a subsidiary of PT PP Tbk (IDX: PTPP) and PT. Bank Kesejahteraan Ekonomi (BKE).
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