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Indonesia eyes 11 bln USD in capital market in 2023

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 ảnh 1Indonesia eyes 11 billion USD in capital market in 2023. (Photo: AFP)

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

About 260 trillion rupiah was raised through the capital market in2022, 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 theFinancial Services Authority, said there are 84 offerings in the pipeline with81.41 trillion rupiah (5.23 billion USD) in total estimated value. About 54.5 trillion rupiah of that would be from 58 potentialIPOs.

Among firms expected to go publicin 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, sourceswith knowledge of the matter told Reuters in December.

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

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