Jakarta, CNBC Indonesia – The Indonesia Stock Exchange said it would start introducing an electronic bookbuilding system during an initial public offering (IPO) starting in August this year.
IDX Director of Corporate Valuation I Gede Nyoman Yetna said, this system will be launched in conjunction with the commemoration of the 43rd Birthday of the Capital Market which falls in the same month.
“We plan to introduce the e-IPO system at the 43rd Capital Market Anniversary in August 2020. Since then the implementation roll out can begin,” Nyoman said, in Jakarta, Thursday (07/23/2020).
With this E-IPO, stock pooling is expected to be more transparent. However, the implementation will only be valid for the process of initial public offering of shares since six months, but in accordance with the provisions of Closing in Article 58 POJK 41 of 2020. Thus, this regulation becomes mandatory starting from January 2021.
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Photo: Corona Virus Still Haunted, Red CSPI. (CNBC Indonesia / Muhammad Sabki)- – |
“Before it is fully implemented, the use of E-IPO is voluntary in nature and the provisions for adjusting the allocation of securities have not yet been enacted,” he said.
IDX, said Nyoman, has conducted socialization to Exchange Members on Wednesday, July 22, 2020, and currently there is an ongoing user registration for Exchange Members and full cycle final testing involving Exchange Members, Registrars, KPEI and KSEI.
Note CNBC Indonesia, IDX Trade and Regulatory Director Laksono Widodo previously stated, with the enactment of this regulation, there would be no reason for underwriters who carry a mandate from the company to register initial shares or initial public offering (IPO) to fry share prices.
“If the intention to fry shares is difficult [dengan adanya EBB], “said Laksono, at the IDX Building, Sudirman, Jakarta, Thursday (12/5/2019).
(dru)
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