The Indonesia Stock Exchange (BEI) has announced that as of January 3, 2025, no companies have raised funds or listed shares through an Initial Public Offering (IPO). However, 22 companies are currently in the IPO pipeline, offering promising prospects for the Indonesian market this year.

IPO Pipeline Overview

BEI’s Director of Corporate Valuation, I Gede Nyoman Yetna, revealed that the pipeline includes companies with varying asset classifications. Among the 22 firms, one is categorized as having small-scale assets (below IDR 50 billion), two as medium-scale assets (IDR 50 billion to IDR 250 billion), and the majority—19 companies—boast large-scale assets exceeding IDR 250 billion.

This diverse portfolio reflects Indonesia's economic resilience and the readiness of its businesses to tap into capital markets. According to Nyoman, these companies span a wide range of sectors, indicating healthy sectoral representation in the IPO pipeline.

Sectoral Breakdown

The companies in the IPO pipeline are distributed across several industries:

• Basic Materials: 3 companies
• Consumer Cyclicals: 1 company
• Consumer Non-Cyclicals: 5 companies
• Energy: 3 companies
• Financials: 2 companies
• Healthcare: 3 companies
• Industrials: 3 companies
• Properties & Real Estate: 2 companies

This diverse sectoral representation indicates investor confidence across various industries, particularly in consumer goods and healthcare, which account for a significant portion of the pipeline.

Bond and Sukuk Pipeline

In addition to IPOs, BEI also reported on the state of bonds and sukuk issuance. As of early January, no bonds or sukuk (EBUS) have been issued, and no funds have been raised. However, 12 issuers have prepared 15 bond and sukuk offerings that remain in the pipeline.

These figures suggest a slow start for fundraising activities in Indonesia’s capital markets but hint at significant potential in the near future. The focus on bonds and sukuk reflects Indonesia's growing interest in diversifying funding instruments to accommodate various investor profiles, including those seeking Sharia-compliant options.

Looking Ahead

The data highlights the preparedness of Indonesia’s capital market participants to navigate economic challenges while maintaining growth opportunities. Despite the slow start, the robust IPO pipeline and the anticipated bond and sukuk issuances indicate a positive outlook for the remainder of 2025.

Investors should monitor these developments closely, particularly in high-performing sectors like healthcare, consumer goods, and energy, which are poised to drive market activity.

As BEI continues its efforts to facilitate listings and fundraising activities, the Indonesian stock market remains an attractive destination for both domestic and international investors.