IDX Targets Increase in Listings, With 3 Firms Set to Go Public in First Quarter

BY :ANTONIA TIMMERMAN

JANUARY 12, 2015

Jakarta. Three companies — Bank Yudha Bhakti, Mitra Keluarga and Mitra Energi Persada — are ready to list on the Indonesia Stock Exchange, or IDX, in the first quarter of this year, a director at the bourse said on Friday.

The IDX has set a target this year to add 32 firms to the 507 companies listed on the local bourse.

Hoesen, a listing director at the IDX, said Bank Yudha, a small lender collectively owned by many cooperatives — including from the Indonesian Army, Navy, Air Force and National Police — and Mitra Keluarga, a hospital arm of the pharmaceutical giant, the Kalbe Group, have already processed their initial public offerings.

Gas distributor Mitra Energi is re-listing on the IDX. The company previously had its core business in the IT sector and was de-listed in 2007.

Now, with a new core business and new shareholders, the company is plotting its public return.

Bank Yudha plans to sell 300 million shares, or 11.93 percent of its equity. It plans to raise Rp34.5 billion($2.7 million). It said in a statement that proceeds from the IPO would be used to finance loan expansion and IT improvements.

Bank Yudha made a public offering from Jan. 5 to 7 and plans to list its share at the IDX on Tuesday.

Meanwhile, Mitra Keluarga was said to be seeking to raise between $200 million and $300 million. Previous Investor Daily reports have said that the company plans to undertake pre-marketing to sell its shares to investors by the end of January, or at the latest early February.

Mitra has appointed Kresna Graha Sekurindo as the lead underwriter. Mitra will join the few listed hospital operators including Siloam International Hospital, a unit of the Lippo Group.

Officials at the State-Owned Enterprises Ministry has said that subsidiaries of state-owned companies are also plotting to have their IPOs this year.

Those named include PP Properti, a property development arm of state-builder PP; Garuda Maintenance Facility Aero Asia (GMF), a unit of national flag carrier Garuda Indonesia; Perkebunan Nusantara VII, a state plantation company and PLN Batam, a unit of state utility company Perusahaan Listrik Negara.

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