New Listing Target Likely Unmet, IDX Says
10 October 2014 20:22 WIB
TEMPO.CO, Jakarta – This year's target to have 30 new companies listing their shares in the Indonesia Stock Exchange (IDX) may not be reach. IDX president director Ito Warsito said the failure is due to the volatile political situation and a decelerating national economy.
"Political situations have caused companies to delay their IPO plans for this year," Ito said in Jakarta, yesterday.
According to Ito, as of early October only 18 new issuers were listed on IDX, still far from this year's target of having 30 new issuers.
A number of companies that postponed their IPO plans include PT Bumiraya Investindo, the subsidiary of PT Tiga Pilar Sejahtera Tbk. Initially, Bumiraya planned to hit the floor in the first half of 2014, but decided to push the plan back until the end of 2014.
PT BNI Securities also delayed its plans to float 20 percent of its shares to the public. PT Citilink Indonesia, a subsidiary of PT Garuda Indonesia (Persero) Tbk, even delayed its IPO to 2016 after initially saying that it would go public in 2015.
DINI PRAMITA | GANGSAR PARIKESIT | FAIZ NASHRILLAH | ABDUL MALIK
