The Indonesian Stock Exchange (IDX) has witnessed a significant uptick in initial public offerings (IPOs) throughout 2024, with a total of 13 companies going public and raising funds amounting to Rp 3 trillion. This surge in IPO activity highlights growing investor interest and confidence in the Indonesian market.
According to Director of Corporate Assessment at IDX, I Gede Nyoman Yetna, as of February 7, 2024, a total of 13 companies have listed their shares on the IDX, collectively raising Rp 3 trillion in funds. Moreover, Nyoman revealed that there are 24 companies still in the pipeline awaiting IPO listings, indicating a robust pipeline of companies seeking to tap into the capital market.
Among the companies in the IPO pipeline, 17 are medium-scale enterprises with assets ranging from Rp 50 billion to Rp 250 billion, while 4 companies are classified as large-scale enterprises with assets exceeding Rp 250 billion, and 3 companies are categorized as small-scale enterprises with assets below Rp 50 billion.
The companies in the IPO pipeline span various sectors, with 8 companies from the industrial sector, 5 from consumer cyclicals, and 3 from the technology sector. Additionally, there are 2 companies from the basic materials sector, 4 from consumer non-cyclicals, and 1 each from the infrastructure, property, and real estate sectors.
In addition to IPOs, the bond market is also active, with 12 bond issuances from 10 corporate issuers generating Rp 11.9 trillion in funds. This indicates a growing appetite for debt instruments among investors and reflects positively on the overall capital market sentiment.
Furthermore, in terms of rights issues, 4 companies have already conducted rights issues with a total value of Rp 3.08 trillion as of February 7, 2024. There are still 24 companies listed in the rights issue pipeline, with 8 companies from the consumer cyclicals sector, 5 from the financial sector, and 4 each from the consumer non-cyclicals and energy sectors.
The surge in IPOs, bond issuances, and rights issues underscores the dynamism of Indonesia's capital market and bodes well for the country's economic growth prospects. It reflects confidence among businesses in raising capital and investors' willingness to participate in the country's burgeoning capital market activities.