Five firms to go public

JAKARTA (JP): Chairman of the Capital Market Supervisory Agency I Putu Gede Ary Suta confirmed that at least five companies, including the state-owned Bank Negara Indonesia 1946, will go public in the next three months.

Putu told journalists over the weekend the confirmation was based on the number of registration statements accepted by the agency as of Sept. 27.

"The number might increase if other companies submit registration statements in the next few weeks," he said.

He also said two firms will issue rights shares to raise funds of about Rp 1.4 trillion (US$597 million) and one firm is to issue bonds worth Rp 200 billion.

He said that during the first nine months of this year, 10 companies conducted initial public offerings (IPO).

In the same period, 27 firms issued rights shares valued at Rp 7.5 trillion and eight companies issued bonds worth Rp 1.9 trillion.

Putu said if there were no more registrations for IPOs, the total number of new IPOs would only be 15 for the whole of this year.

Early this year, the Jakarta Stock Exchange said it expected 30 companies to go public this year, including three state-owned companies. (alo)