February 13, 2026 | 07:11 am
TEMPO.CO, Jakarta - The Indonesian Stock Exchange (IDX) has responded to the state-owned enterprises' plan to go public by offering their shares for the first time in 2027. The exchange authority stated that they are not in a rush to increase the number of issuers, including state-owned companies. They have chosen to prioritize maintaining the quality of companies entering the capital market.
Acting Director of the IDX, Jeffrey Hendrik, mentioned that the exchange will await the readiness of SOEs planning to list their shares. He stated, "We'll just wait for their readiness, but we hope to continue to maintain it," after attending the Bloomberg Technoz Economic Outlook 2026 forum at the Financial Hall, South Jakarta, on Thursday, February 12, 2026.
Jeffrey emphasized that IDX's approach in the stock listing process is currently focused on quality rather than quantity. This principle is applied to ensure that listed companies have strong fundamentals and good governance, aligning with the long-term interests of investors.
In line with this policy, IDX is preparing to tighten stock listing requirements, which are still being implemented. These rule adjustments are intended to improve the quality of listed companies and strengthen market confidence in the exchange.
IDX is asking potential issuers, including SOEs, to adjust to the new provisions. In the future, the exchange hopes that more large companies under Danantara's management, as well as resource-based companies, will offer ownership to the public. This will allow the public to participate in the companies' growth and added value.
Previously, the Danantara Investment Management Agency targeted the IPO process for several new SOEs to begin in 2027, after completing all consolidation stages. Danantara's Chief Operating Officer, Dony Oskaria, ensured that no SOEs would go public on the IDX this year as they are still in the internal restructuring phase.
Dony explained that there are four stages to go through before SOEs enter the capital market: reviewing the business fundamentals, consolidation through mergers or restructuring, restructuring the business model resulting from the consolidation, and the value creation stage.
It is at this final stage that the decision is made whether the company will go public or remain closed. Danantara targets companies that have completed all these stages to begin the IPO process in 2027.
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