Indonesian market set for seven IPOs, 21 bond offers & nine rights issues

Visual from the OJK website

At least seven companies will list their shares on the Indonesia Stock Exchange and the number is likely to go up in the second half of 2016, according to the country’s market regulator Financial Service Agency,  commonly referred as OJK.

In addition to this, there are seven corporate bond issues that will hit the market soon, indicating an increased appetite for such offerings.

In 2015, the southeast Asian economy saw 19 companies tap the stock market to raise $1 billion, much lower than the targeted 35 listings.

The seven companies that have lined up list on the local bourse are Graha Antasena Propertindo, Cikarang Listrindo, Sillo Maritime Perdana, Duta Intidaya, Protech Mitra Perkasa, Capital Financial Indonesia and Megapower Makmur.

Also Read: IPO route turns hot as nine Indonesian firms line up to list on IDX in Q2

“We can’t mention the value of IPOs as companies have still not set the price,” OJK deputy commissioner Noor Rachman told reporters on Tuesday.

Seven new bonds issues will be offered by Pelindo I (Rp 1 trillion), PP Property (PPRO) (Rp800 billion), Angkasa Pura II (Rp2 trillion), Intiland Development (DILD) (Rp 800 billion) and Indonesia Infrastructure Finance (Rp2 trillion), he added.

Other companies that plan to issue Islamic bonds or sukuks, include Tiga Pilar Sejahtera (AISA) Rp1.5 trillion and regional development banks in South Sulawesi and West Sulawesi (amounting to a total of Rp80 billion).

Besides these, 11 more companies have registered with the OJK for their proposed bond issues.

These companies include Surya Artha Nusantara Finance (Rp 2 trillion), Waskita Karya for Rp 2 trillion, Bank Panin for Rp 2.2 trillion, Bumi Serpong Damai for Rp 1.5 trillion, Medco Energy for Rp1.5 trillion, Maybank Indonesia for Rp 1.5 trillion, Tower Bersama Infrastructure for Rp 1 trillion, Bank Tabungan Pensiun Nasional for Rp1 trillion, Wahana Oto Multiartha Tbk for Rp 800 billon, BPD DKI Rp 500 billion and PT Batavia Prosperindo Finance Tbk (BPFI) for Rp 200 billion.

According to Noor Rachman, the bond issues have increased significantly thanks to the steady demand for such products as also the confidence of corporates on the Indonesia market.

Apart from IPOs and bonds, corporates are also proposing to raise capital through the rights issue. Companies who have registered for rights issues includ Rimo International, Astra Agro Lestari, Bank Windu Kentjana, Bentoel International Investama, ACSET Indonusa Grahatama, Graha Layar Prima, MNC Investama, Alam Raya Unggul, Bank Ina Perdana.

“The rights issue has indicative values around Rp29 trillion,” he added.

Recently, the OJK, Finance Ministry and Bank Indonesia  set up a Coordination Forum for development financing through financial markets to make the economy more resilient to sudden capital outflows.

Also Read: Indonesia pushes 53 state-owned infrastructure firms to tap ‘sukuk’ route to raise funds

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.