IDX Maps Out Local Companies in NTB Ready for Stock Exchange Listing

Mataram (ANTARA) - The Indonesia Stock Exchange (IDX) Mataram Representative is mapping the readiness of local companies in West Nusa Tenggara to conduct initial public offerings (IPOs) of shares to the public. Head of IDX Mataram, Gusti Bagus Ngurah Putra Sandiana, stated that an IPO can serve as a solution for obtaining additional capital for business development. “Several local companies are already interested in IPOs,” he said when met in Mataram, NTB, on Wednesday. Ngurah mentioned that his team is actively providing guidance to local companies in West Nusa Tenggara (NTB), including introducing potential underwriters. The limited availability of underwriters with offices in the region poses one of the challenges for local companies aiming to list on the national exchange. “We introduce them to several references for potential underwriters. There are no underwriters in NTB, so they must go to the centre (Jakarta),” Ngurah explained. IDX Mataram categorises these local companies into several tiers, from those that are fully ready to those requiring significant improvements. Companies in tier I generally have long operational histories, stable revenues, and audited financial statements from public accounting firms. “According to our assessment, fewer than 10 companies fall into the tier I classification. The number is not large,” Ngurah elaborated. He further noted that some local companies interested in IPOs are still considering the right timing to release part of their share ownership to the public through the stock exchange. Ngurah declined to disclose the identities of these interested local companies, citing the limited number in NTB, which could make them easily identifiable. “From the companies’ perspective, their confidence that an IPO is the right choice is already there. It’s just a matter of timing; they are still wait-and-see,” he concluded.