EY Indonesia IPO Masterclass 2023 helps companies unlock their growth potential and become market leaders

• IPO Masterclass has returned to the in-person format this year
• IPO Masterclass aims to help potential listed companies to better understand the IPO preparation and strengthen their strategic intentions to go public
• This year’s soaring IPO performance should be the perfect momentum for Indonesia companies to kick-start their IPO plan

JAKARTA, 11 May 2023. The IPO Masterclass, a collaboration between EY Indonesia and Indonesian Capital Market Self-Regulatory Organisations (SROs), which consists of PT Bursa Efek Indonesia (BEI), PT Kliring Penjaminan Efek Indonesia (KPEI) and PT Kustodian Sentral Efek Indonesia (KSEI) has returned to an in-person format this year. Organized for two days, 10-11 May 2023 in Jakarta, the 30 IPO Masterclass participants are mainly board and management representatives from various Indonesian companies with the same strategic goals - to go public and raise capital to accelerate growth and innovation.

Peter Surja, EY Indonesia Country Managing Partner, says:

“With global expertise and a comprehensive knowledge of the Indonesian capital market, EY Indonesia is committed to working with the capital market SROs to boost the number of issuers in Indonesia and, by extension, the country's GDP.”

Also attended the session as facilitators relevant stakeholders such as underwriters, law firms, PR firms, and successful listed companies. Through an in-depth discussion and success story sharing, all the participants are expected to gain valuable insights and tips that can help them thrive toward becoming listed companies.

Jongki Widjaja, EY Indonesia IPO Leader, says:

“The IPO Masterclass aims to contribute to the capital market by advocating more prospective issuers to the IDX pipeline, as well as facilitate meaningful and productive discussions to educate IPO prospects on their forthcoming IPO journey.”

Despite a continued subdued global IPO market from ongoing geopolitical instability, interest rate hikes, and entrenched inflation, Indonesia’s IPO market is still attractive, proven by its strong performance last year when most markets crumbled.

According to a quarterly report published by EY Global, IPO activity across Southeast Asia appeared encouraging amid persistent macroeconomic and geopolitical uncertainty. Indonesia was the most active market in Asean during Q1 2023 with 30 IPOs raising US$828m. With Q1 seeing the number of issues surpassing 50% of 2022’s issuances by deal volume (12 IPOs raising US$220m for Q1 2022), we can expect the country’s IPO market to be robust and active throughout this year (source: EY Global IPO Trends Q1 2023).

In fact, until 30 April 2023, The Indonesia Stock Exchange (IDX) recorded 34 new listings with total proceeds of IDR31.99 trillion. Indonesia has also experienced the greatest number of issuances in its history with 59 IPOs in 2022. The soaring IPO performance has put Indonesia at the top chart of the biggest IPO transaction numbers in ASEAN for five consecutive years since 2018 (source: IDX data). Seeing this optimistic IPO momentum, companies in Indonesia continue to drive growth and seek capital to fund their ambitions. IDX provides socialization and consultation programs for prospective companies across Indonesia to foster a deeper understanding of funding opportunities from the capital market and increase the overall level of interest towards going public. IDX has also taken initiatives in regard to several listing aspects to create a market that better reflects the current business landscape, including adjusting the listing requirements (i.e. Rule No. I-A), introducing new listing boards (New Economy Board, with the Watchlist Board currently under development), and exploring new listing schemes (e.g. SPAC and foreign listing).

Vera Florida, Indonesia Stock Exchange Vice President, says:

“We hope that all our development efforts at IDX will be able to strengthen the trust that Indonesian businesses have placed on us as the house of growth of choice and encourage even more companies to go public.”

In this event, EY Indonesia also expressed its gratitude and support for IDX's success in raising awareness of IPOs for companies through numerous programs, which has resulted in the highest record for the country's capital market. The second day of the session kicked off in the IDX seminar room above the Main Hall, giving the participants a glimpse of the venue where listing ceremonies take place.

EY Global releases its findings of "Global IPO Trends" on a quarterly basis. Insights, market trends, and projections are provided for the Asia Pacific, America, Japan, and EMEIA areas in the report. More details are available at https://www.ey.com/en_id/ipo. 

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