8 Foreign Companies Ready to Go Public, IDX Says

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  • Indonesia Stock Exchange (IDX). TEMPO/Tony Hartawan

    Indonesia Stock Exchange (IDX). TEMPO/Tony Hartawan

    TEMPO.CO, Jakarta - Eight foreign companies have expressed their interest to list their shares at the Indonesia Stock Exchange (IDX). These companies are engaged in the mining, plantation and retail sectors.

    The number is down from the bourse's previous announcement. In January, the IDX announced that 10 foreign companies plan to hold IPOs.

    IDX's director for corporate assessment Samsul Hidayat said the companies planning to go public operate overseas and in Indonesia. Some have listed their shares in overseas stock exchanges.

    "There are eight (companies) that have expressed interest. They come from with various sectors such as plantations, mining, retail and others," Samsul said in Jakarta Wednesday, February 21.

    According to the information received by IDX, most of these companies seek to hold their initial public offering for the purposes of restructuring, funding needs, and spreading their shares to the people of Indonesia.

    "This is to give Indonesians the opportunity to own (shares), because most of their income comes from Indonesia," Samsul said.