February 5, 2018 / 11:30 AM / in a year

Eight firms eye Q1 IPOs at Indonesia Stock Exchange -director

JAKARTA, Feb 5 (Reuters) - Eight companies are currently preparing for initial public offerings in the first quarter this year, Samsul Hidayat, a director at Indonesia Stock Exchange (IDX) told reporters on Monday.

So far this year, only one company has completed an IPO at the exchange, which is aiming to list more than 35 new companies in 2018.

Among the eight companies in the pipeline are power company PT Sky Energy Indonesia and PT BTPN Syariah Tbk, the Islamic banking unit of mid-size lender PT Bank Tabungan Pensiunan Nasional Tbk, Hidayat said.

He did not disclose the potential sizes of the new IPOs.

In 2017, 37 companies launched IPOs, raising a combined 9.6 trillion rupiah ($710.06 million) in proceeds, according to data from Financial Service Regulator (OJK). That compared to 14 companies in 2016, which raised a combined 12.1 trillion rupiah. ($1 = 13,520 rupiah) (Reporting by Cindy Silviana; Additional reporting and writing by Fransiska Nangoy)

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