IDX receives IPO postponement letter from UGM-owned company
PT Bursa Efek Indonesia (IDX) has stated that it has received a letter requesting the postponement of the Initial Public Offering (IPO) from PT Swayasa Prakarsa Tbk (SWAP).
SWAP is a subsidiary of PT Gama Multi Usaha Mandiri (Gama Multi Group), which is a holding and investment company owned by Universitas Gadjah Mada (UGM).
“The Exchange has received a Letter of Request for the Postponement of the Initial Public Offering Plan from PT Swayasa Prakarsa Tbk dated 1 September 2026,” said the Director of Company Valuation at IDX, Saidu Solihin, to reporters in Jakarta on Wednesday.
Based on the letter received, Saidu explained that the postponement plan was implemented because, as of 1 September 2026, PT Swayasa Prakarsa Tbk (SWAP) had not yet obtained an Effective Statement from the Financial Services Authority (OJK) to conduct the public offering.
In the IPO process, SWAP was using financial statements as of 28 February 2026, meaning those financial statements were only valid until 31 August 2026.
“Based on the letter received, the postponement plan is being carried out because, up to 1 September 2026, PT Swayasa Prakarsa Tbk has not obtained an Effective Statement from the Financial Services Authority (OJK) to conduct the public offering,” Saidu stated.
Previously, PT Swayasa Prakarsa Tbk (SWAP) announced its preparations to launch an IPO on the Indonesian capital market, targeting to raise funds of Rp45.22 billion.
In the IPO, SWAP intended to offer a maximum of 323 million new shares to the public, representing a maximum of 30.30 per cent of the fully placed and paid-up capital after the IPO.
The company had set an initial offering price (bookbuilding) in the range of Rp130-Rp140 per share, conducted from 24-27 August 2026, with a target to raise funds of up to Rp45.22 billion.
The public offering period was scheduled for 2-8 September 2026, with the allotment period on 8 September 2026, and share distribution on 9 September 2026.
Furthermore, SWAP was targeted to officially list its shares on the Indonesian capital market on 10 September 2026.