REPUBLIKA.CO.ID, JAKARTA - The Indonesia Stock Exchange (IDX) expects 40 companies to make an initial public offering (IPO) of their shares this year.

"The BEI has set the target of companies conducting an IPO this year at 30 but we hope the number will increase to 40," IDX Corporate Appraisal Director Hoesen said in Jakarta on Friday.

He said 24 companies had listed their shares at the IDX so far this year. The achievement has prompted the capital market authorities to exceed the target set by the IDX. 

"Five companies are now ready to list their shares at IDX and a national bank also intends to conduct a mini expose next week," he said.

The five companies planning to launch IPO of their shares in the second semester of this year are PT Grand Kartech, PT Sidomuncul, PT Arita Prima, PT Siloam Internasional Hospitals, and PT Kota Delta Mas. Hoesen said the BEI also cooperating with a number of associations, including the Indonesian Chamber of Commerce and Industry (Kadin), the Indonesian Young Businessmen Association (HIPMI) and the Indonesian Businessmen Association (Apindo) in developing the capital market.

Earlier, Nurhaida, a member of the Financial Service Authority (OJK) board of commissioners for the capital market, said the higher number of corporation actions including IPO, right issue, and bond issue might serve as a foundation for the positive growth of the Indonesian capital market.

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