PT BRI Danareksa Sekuritas (BRIDS) revealed that it would bring one company to carry out an initial public offering (IPO). It said it would bring one more issuer to take the floor on the stock exchange in the fourth quarter of 2023. BRIDS President Director Laksono W Widodo said that the company is part of the textile manufacturing sector with an asset value of IDR 250 billion. "There will be an IPO at the end of the year. The sector is textile manufacturing with assets above IDR 250 billion," said Laksono to journalists at the Indonesia Stock Exchange (BEI) Building, Tuesday (24/10/2023).

Meanwhile, BRIDS will bring five companies to the stock exchange next year. Laksono revealed that the five companies came from the manufacturing and technology sectors.

"The five companies have large-scale assets, namely above IDR 250 billion," he explained.

Laksono said that the five companies were actually planning to IPO this year. However, they postponed it because this year was quite difficult for the company.

With Indonesia's democratic party coming up next year, Laksono said the five companies could IPO in 2024. Apart from that, market conditions are still very fluid, coupled with geopolitical conditions and interest rates.

"However, we already have five pipelines, if the market supports it, it could be a good IPO," he said.

However, among them there are no state-owned companies, including Pertamina Hulu Energy (PHE).

"There are no BUMNs, [PHE] is not yet included in the five [pipelines]. Maybe if we learn from last year, there will definitely be big projects where decisions are made by the government. There may be delays," said Laksono.