The government is targeting to have more companies listed publicly in the Indonesia Stock Exchange (IDX) this year. Last year, 37 companies were recorded to have held initial public offerings (IPO).
"We hope there will be more this year. Fifty if possible," Coordinating Minister for Economic Affairs Darmin Nasution said during the last closing bell ceremony at the IDX building in Jakarta last Friday.
Darmin said having more public companies is an important indicator in the development of the capital market sector.
"The Jakarta Composite Index (JCI) is not the only important factor," he said.
Meanwhile, the IDX is not keeping this year's IPO target the same as in 2017, which is 35 companies. Despite the modest target, the IDX believes that this year's economy will push more companies into listing their shares with the IDX, provided there is support from "sound economy and the government's infrastructure programs," IDX's director for assessment Samsul Hidayat said.
Meanwhile, IDX president director Tito Sulistio is targeting to have a market capitalization value of Rp10 trillion in two years.
The JCI closed 2017 with a 0.65 percent gain to 6,355.65. In 2017, the IDX recorded many achievements including a 44-percent increase in investors' number to 1.12 million. The investment value of domestic investors also rose to Rp340 trillion.