EY Indonesia and IDX Host Comprehensive IPO Masterclass to Equip Companies for Successful Public Offerings

JAKARTA, 6 JUNE 2024. EY Indonesia collaborated with the Indonesia Stock Exchange (IDX) to host a two-day IPO Masterclass on May 29-30, 2024. This event provided a vital platform for Indonesian companies considering the journey to an Initial Public Offering (IPO). The masterclass aimed to equip participants with the essential knowledge and tools necessary to navigate the IPO process, which is a strategic route for funding growth and accessing deep pools of capital with 53 attendees.

Held at the EY Office and the Indonesia Stock Exchange, the masterclass attracted representatives from various Indonesian companies eager to understand the complexities of going public. The sessions featured presentations from EY Indonesia Partners and guest speakers from leading institutions involved in IPOs, including the IDX, investment banks, and legal consultants. These experts shared their valuable insights and experiences, offering a comprehensive view of the IPO landscape.

Jongki Widjaja, EY Indonesia Assurance Partner and Indonesia IPO Leader says:

“Today's masterclass has 53 participants from 27 organizations, representing 13 different industries including finance, real estate, construction, consumer products (agribusiness, pharmaceuticals, F&B, and cosmetics), and energy. Currently, 926 companies are listed on the Indonesia Stock Exchange, with 137 of them being our audit clients of KAP Purwantono, Sungkoro, Surja (EY Indonesia). I’d like to thank the Indonesia Stock Exchange for giving EY Indonesia the opportunity to organize this event here and ring the opening bell.”

The second day of the masterclass featured a presentation by the Indonesia Stock Exchange on the current state of Indonesia's capital market. BRI Danareksa Sekuritas provided an in-depth look at preparing for the IPO journey, the benefits of going public, corporate governance, and key success factors of a public offering. This was followed by Hanafiah Ponggawa & Partners discussing the legal due diligence required for going public. The day concluded with a success story from PT. Cisarua Mountain Dairy Tbk. (Cimory), offering participants practical insights and real-world experiences of the IPO process, along with tips and insights on staying updated with current regulations.

In Indonesia, an IPO is still one of the top strategic for companies aiming to achieve their growth ambitions. The EY Global IPO Trends Q1 2024 report highlighted robust listing activity in Indonesia, with Southeast Asian exchanges seeing 20 IPOs raising $224 million in Q1 2024. Despite global economic uncertainties, Indonesia continues to dominate the ASEAN IPO market, with 19 new listings in Q1 2024. According to a recent EY study, Indonesia was the third most active market globally in Q1 2024, accounting for 7% of all global IPOs. This demonstrates the continued attractiveness of IPOs for Indonesian companies.

I Gede Nyoman Yetna, Indonesia Stock Exchange Listing Director says:

“I want to thank EY Indonesia for consistently holding the IPO Masterclass since 2018. Participating in this masterclass prepares companies to scale up and leverage Indonesia’s growing capital market. Despite current challenges like geopolitical tensions, high inflation, and supply chain issues, it’s crucial to shift investor expectations by demonstrating resilience through innovative business models, strong performance, and ESG considerations. Understanding investor expectations and showing profitability and positive cash flow are key to a successful IPO. We hope participants will find the right market momentum and seize the opportunity to enter the public arena.”

EY Global releases its “Global IPO Trends” report quarterly, providing insights, market trends, and projections for the Asia Pacific, America, Japan, and EMEIA regions. More details can be found at https://www.ey.com/en_id/ipo.  

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Going public is a transformative milestone in an organization’s journey. As the industry-leading advisor in initial public offering (IPO) services, EY teams advise ambitious organizations around the world and helps equip them for IPO success. EY teams serve as trusted business advisors guiding companies from start to completion, strategically positioning businesses to achieve their goals over short windows of opportunity and preparing companies for their next chapter in the public eye. ey.com/ipo

About the data

The data presented here is available on ey.com/ipo/trends. 2023 refers to the full calendar year and covers completed IPOs from 1 January 2023 to 4 December 2023, plus expected IPOs by 31 December 2023 (forecasted as of 4 December 2023). All data contained in this document is sourced from Dealogic, Capital IQ and Wind, and EY analysis unless otherwise noted. The Dealogic data in this report are under license by ION. ION retains and reserves all rights in such data. SPAC data are excluded from all data in this report, except where indicated.