Seven companies to raise funds from stock exchange

January 02, 2017, 10.21 AM  | Reporter: Elisabet Lisa Listiani Putri, Narita Indrastiti
Seven companies to raise funds from stock exchange


JAKARTA. According to Financial Service Authority (FSA), as of 30 December 2016, seven companies are ready to obtain fresh funds by conducting initial public offering (IPO), as well as issuing rights or obligations.

Three out of seven companies will conduct the IPO. Two of them, PT Anugerah Berkah Madani and PT Forzaland, respectively, will issue 25% and 20% of their shares of issued and paid up capitals. Previously, Forzaland has stated to target Rp 93.7 billion-Rp 109.3 billion public funds. Both of the companies had cancelled their IPOs in the last year.

Aside of the two issuers, PT Bintraco Dharma has also listed to conduct IPO in this year. This company is planning to release 20% of its shares. Bintraco is the sales agency of four wheels vehicles that operates in Central Java and Yogyakarta.

Meanwhile, three companies are planning to issue rights, namely PT Bank Ina Perdana Tbk (BINA), PT Red Planet Indonesia Tbk (PSKT), and PT Buana Listya Tama (BULL). The rights issue is targeted to collect as much as Rp 1.35 trillion funds.

FSA also record a plan of PT Mayora Indah Tbk (MYOR) for issuing a worth of Rp 1 trillion bonds.

President Director of Indonesia Stock Exchange (IDX) Tito Sulistio hopes that market conditions will improve in this year to generate larger funds.

As information, in 2016 IDX could only engage 16 new issuers with the total issues of Rp 12.11 trillion. “We are optimistic to have 30 new issuers in 2017,” Tito said.

Repatriation funds

The Chief of Executive of Stock Exchange Supervisor at FSA Nurhaida is optimistic that the stock market will be more vibrant in the next year. Let alone, a total commitment of Rp 143 trillion repatriation funds is expected to flow to the domestic market.

The repatriation funds are expected to be allocated to various investment instruments, including stock and bond markets.

Head of Research at Universal Broker Indonesia Satrio Utomo said, stock market is potentially to be bullish and can reach the level of 6,000 in this year. Satrio is optimistic that the number of companies, which raise funds from stock market, will be growing in 2017. (Muhammad Farid/Translator)

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