Indonesia eyes 11 bln USD in capital market in 2023

January 04, 2023 | 11:15

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Indonesia aims to raise 170 trillion rupiah (10.92 billion USD) in the capital market in 2023, including from initial public offerings and debt instruments, well below the amount raised in 2022, the country's financial regulator said on January 2.

Indonesia eyes 11 bln USD in capital market in 2023

Indonesia eyes 11 billion USD in capital market in 2023. (Photo: AFP)

Jakarta – Indonesia aims to raise 170 trillion rupiah (10.92 billion USD) in the capital market in 2023, including from initial public offerings and debt instruments, well below the amount raised in 2022, the country's financial regulator said on January 2.

About 260 trillion rupiah was raised through the capital market in 2022, including the IPO of top tech firm PT GoTo Gojek Tokopedia (GOTO.JK), which raised 1.1 billion USD in April.

Inarno Djajadi, head of capital market supervision at the Financial Services Authority, said there are 84 offerings in the pipeline with 81.41 trillion rupiah (5.23 billion USD) in total estimated value. About 54.5 trillion rupiah of that would be from 58 potential IPOs.

Among firms expected to go public in 2023 are two units of state energy firm Pertamina, Pertamina Geothermal Energy and Pertamina Hulu Energi.

Pertamina Hulu Energi could raise up to 2 billion USD, sources with knowledge of the matter told Reuters in December.

State-Owned Enterprises Minister Erick Thohir said in a separate event the same day that state palm oil grower Palm Co, a unit of state plantation firm PTPN III, may launch an IPO in 2023.

President calls for more Indonesian investments

President Nguyen Xuan Phuc expressed his hope that the Indonesian Chamber of Commerce and Industry (KADIN) will encourage Indonesian businesses to pour more investments into Vietnam, in his meeting with KADIN Chairman Arsjad Rasjid in Jakarta on December 23.

By VNA

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