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Get ready Cuan! There will be fresh air in the Indonesian financial market

Jakarta, CNBC Indonesia – Financial markets in Indonesia, both stocks and bonds, are expected to be “abundant” in late 2022 and early 2023.

“As of November this week, the IPO pipeline that entered is about Rp. 46.9 trillion, and the rights issue is Rp. 39.4 trillion. Of the 42 companies that are in the IPO pipeline , around 35% will be listed in 2023,” The Indonesia Economic Intelligence chief economist Sunarsip said in his statement on Saturday (11/19/2022).

That means there will be about 14-15 companies that will have an IPO and a rights issue at the end of this year.

Meanwhile, among those who will carry out a rights issue at the end of the year, namely Bank BTN (BBTN) who will carry out a rights issue worth IDR 4.13 trillion and Bank Syariah Indonesia (BRIS) who will carry out a rights issue worth IDR 3,000 billion.

“Several ‘big names’ such as BTN and BSI will go public ahead of the shutdown in 2022. This has the potential to attract (foreign funds) inflow from overseas,” Sunarsip explained.

Sunarsip said that the presence of the two ‘Big Name’ aka two banks with a capital of more than Rs16 trillion in the stock exchange activities was very important, to give confidence to foreign investors in Indonesia’s capital market and financial market.

Sunarsip is also optimistic that by the end of 2023 there will be a sufficiently large capital inflow into the country, not only in the form of shares but also in the form of bonds.

“I have noticed that there is about IDR 114.8 trillion in corporate debt maturing in 2023. I am sure not everything will be paid in cash (cash),” he said.

It is believed that companies with maturing debt will refinance by issuing new bonds.

“They’re going to do the refinancing, the way they issue new bonds to pay off old maturing debt,” he said.

“The refinancing on the bond market in 2023 will be even more lively with the presence of large companies. I am sure that the large companies entering the market will be an incentive for foreign investors to enter the financial market in Indonesia,” Sunarsip said.

With Indonesia’s financial market booming late this year and next year, the opportunity for the rupee’s exchange rate to strengthen is open.

“The rupee has an opportunity to strengthen, it is estimated to reach Rp. 15,300 per US dollar at the end of 2022 and reach Rp. 14,800 per US dollar in 2023,” Sunarsip explained.

[Gambas:Video CNBC]

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