IDX Poised to Break Membership Record

Jakarta, Indonesianpost.com – The Indonesia Stock Exchange (IDX) is on the verge of surpassing its own record for new members next week, with two companies gearing up for initial public offerings (IPOs) to become the 67th and 68th members of the IDX this year alone.

“This will exceed the previous record for new members in a year, a record that has stood since 1990, which saw 66 new members join,” I Gede Nyoman Yetna, Director of Company Assessment at IDX, said on Saturday.

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He also indicated that the new record is likely to expand further since there are currently 26 companies in the IDX pipeline preparing for IPOs in the fourth quarter of this year. The IDX currently boasts more than 850 members.

“Historically, the number of companies planning IPOs experiences significant growth during the fourth quarter,” Nyoman noted.

In the nine months ending in September, 66 companies were listed on the IDX, collectively raising Rp 49.4 trillion ($3.2 billion) in IPO proceeds.