Eight Firms Eye Q1 IPOs at Indonesia Stock Exchange

Eight companies are currently preparing for initial public offerings in the first quarter this year, Samsul Hidayat, a director at Indonesia Stock Exchange said Monday (06/02).

So far this year, only one company has completed an IPO at the exchange, which is aiming to list more than 35 new companies in 2018.

Among the eight companies in the pipeline are power company Sky Energy Indonesia and BTPN Syariah, the Islamic banking unit of mid-size lender Bank Tabungan Pensiunan Nasional (BTPN), Hidayat said.

He did not disclose the potential sizes of the new IPOs.

In 2017, 37 companies launched IPOs, raising a combined 9.6 trillion rupiah ($710.06 million) in proceeds, according to data from Financial Service Regulator (OJK).

That compared to 14 companies in 2016, which raised a combined 12.1 trillion rupiah.

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