June 29, 2018 / 5:20 AM / 5 months ago

New Indonesia stock exchange CEO targets 25-30 new listings for 2019

JAKARTA, June 29 (Reuters) - The Indonesia’s stock exchange (IDX) said on Friday they were targeting 25-30 new company listings by 2019 and would aim to increase market cap by 15-20 percent each year.

Inarno Djayadi, who was confirmed as CEO at an IDX shareholders’ meeting on Friday, told a press conference he wanted the exchange to reach 40 new company listings by 2020.

He added that he was expecting 35 initial public offerings (IPO) on the IDX by the end of 2018, “with 32 already in the pipeline”.

IDX director Laksono Widodo said the stock exchange was also trying to renew regulations for tech startup IPOs.

Widodo said IDX’s new management team would target a market cap of 10,000 trillion rupiah in 2020, from 7,200 trillion rupiah currently. (Reporting by Cindy Silviana; Editing by Neil Fullick)

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