Beruflich Dokumente
Kultur Dokumente
HOW TO GO PUBLIC
PREFACE
Every business is founded with expectation that the business will grow rapidly and able to compete in a
long period and last forever. In order to win the competition, the business has to deal with many
challenges. One of the challenges is a funding problem.
The company needs equity funding, as well as loan funding, in order to keep a strong capital structure.
In certain circumstances, e.g. if the company already has a huge amount of loan, the bank may not be
able to give another loan. On the other hand, company’s founders may have limitation to inject more
capital to the company and need strategic partners to share the company’s profits and risks.
Capital market has the solution for the companies to get financing through initial public offering (IPO).
This process will also create a transformation from a closed company to a public company that will be
managed better, more professional, and more transparent.
Basically, all companies have opportunities to become a public company and list their shares in
Indonesia Stock Exchange. As the company listed in Indonesia Stock Exchange, investors can easily trade
its shares. Some people still think that going public is an exhausting, complicated and expensive process.
This book will tell you the true information about the advantages of going public, the process of going
public, the necessary preparation, the requirements, and all related things. Through this book, we hope
that the owners and the management of the companies seeking for funding will understand that the
going public process is not as complicated and expensive as they think before.
We sincerely hope that your company will join hundreds of listed companies that have grown fast after
going public and listing in Indonesia Stock Exchange.
Best Regards,
Tito Sulistio
President Director
Indonesia Stock Exchange
1
TABLE OF CONTENTS
Preface 2
Table of Contents 3
Advantages of Going Public 4
Consequences of Going Public 5
Going Public Preparation 6
The Process of Going Public 8
Listing Requirements in Indonesia Stock Exchange 9
Related Regulations 9
Key Success Factors of IPO 10
Frequently Asked Questions 11
2
ADVANTAGES OF GOING PUBLIC (c) Lift up the Professionalism
3
(g) Improvement of Company Value
4
GOING PUBLIC PREPARATION b. Public Accountant, that will audit the
company’s financial report;
c. Legal Counsel, that will assess the legal aspect
(i) Establishment of Internal IPO Team of the company and gives legal opinion;
d. Notary, that will perform amendment of
Going public consists of some process in several company’s article of association, make the
aspect. The formation of a strong team is an deeds and agreements;
important issue. Internal team should consist of e. Appraisal, that will assess the value of the fixed
people who are in charge of financial and legal assets of the company;
aspect. This team will work together with the f. Securities Administration Bureau, that will help
professionals that will assist company along the IPO company to conduct administration of
process, mainly to prepare the prospectus company’s shares ownership.
document.
The company may select the professionals based on
their track records, reputations, experiences in
(ii) Preliminary Considerations assisting IPO of other companies, and services fee.
The company should ensure that the capital market
The following issues should be considerred at the supporting professionals are the ones that have
preliminary stage of IPO: already registered in OJK.
a. How much proceeds that the company needs
from IPO? The company’s business plan should
be synchronized with the size of the proceeds. (iv) General Shareholders Meeting and Amendment
b. How much is the maximum percentage of public of Company’s Article of Association
ownership that the founders still permit? In
most cases, the founders expect to remain as a In this preparation step, the company conducts
controlling shareholder. In the other hand, if the general shareholders meeting to have shareholders
public ownership (free float) is large, the shares approval on going public plan and the size of shares
tend to be actively trade in Indonesia Stock that will be offerred to public. Company will need to
Exchange. Therefore, the liquidity risk for amend its article of association from a closed limited
investor will be lower. liability company (Perseroan Terbatas or PT) to
c. For the group of companies with a lot of become a public PT. The company will also need to
subsidiaries and business units, the following set up corporate secretary, internal audit, and audit
issues should be considered: committee, if it is not available before.
- Which company that the shares will be
offerred to the public?
- Does it need to take any spin-off, merger, (v) Preparation of Documents
acquisition, or divestment prior to IPO?
Investors will prefer shares with higher market Prior to public offering and list the shares in
capitalization. Indonesia Stock Exchange, the company needs to
d. Are there any regulations, licenses, agreements, submit Registration Statement to OJK and Listing
or provision which need to be settled or Application to Indonesia Stock Exchange, completed
amended prior to IPO? with the following documents:
e. Is there any significant cases, e.g. litigation or a. Company’s profile, information of IPO plan,
legal cases that significantly can affect the information of underwriter and supporting
company’s going concern and agitate the IPO? professionals;
f. Does the company need to restructure board of b. Opinion and report on legal assessment from
directors and/or commissioners of the legal counsel;
company? c. Financial report, audited by public accountant;
d. Appraisal report (if any);
e. The latest article of association as a public
(iii) Appointment of External Professionals company, approved by Indonesian Ministry of
Law and Human Rights;
In order to assist company in the IPO process, f. Prospectus, consisting information in the
company will need to select several parties as documents above (point a. to e.);
follows: g. Financial projection.
a. Underwriter, that will help company to sell
company’s shares to the investors;
5
PROCESS OF PUBLIC OFFERING AND LISTING OF SHARES IN INDONESIA STOCK EXCHANGE (IDX)
1 2 3 4 5 6 7 8
± 1 - 4 weeks ± 4 - 6 weeks ± 2 - 3 weeks
± 1 - 2 weeks
8 9 10 11 12 13
EFFECTICE
ANNOUNCEMENT SUBMISSION APPROVAL OF SHARES LISTING &
STATEMENT
OF REVISION/ OF PUBLIC OFFERING SHARES LISTING TRADING IN IDX
GIVEN BY OJK ADDITIONAL APPLICATION GIVEN BY IDX
SUMMARY OF OF SHARES
PROSPECTUS IN LISTING TO
NEWSPAPER IDX
PROSPECTUS
Allotment
PROVIDED BY Administration
Refund & Shares Distribution
COMPANY Submission of Public Offering Result to settlement to IDX
OJK
Submission of Accountant Assessment
Report to OJK
Submission of information of
shareholders number to IDX 6
THE PROCESS OF GOING PUBLIC
After granted the Shares Listing Preliminary After listing in Indonesia Stock Exchange, investors
Agreement from Indonesia Stock Exchange, the will be able to trade the company’s shares to other
company submits the Registration Statement investors through the brokerage or securities
together with its supporting documents to OJK. The company registered as an Exchange Member in
main supporting document is the prospectus. Indonesia Stock Exchange.
7
REQUIREMENTS OF SHARES LISTING IN INDONESIA STOCK EXCHANGE
Main Board Development Board
A Legal Entity in the form of Limited Liability Company (PT) that is having:
1. Independent Commissioner, minimum 30% of the member of the Board of Commissioners;
2. Independent Director, minimum 1 person of the member of the Board of Directors;
3. Audit Committee;
4. Internal Audit Unit;
5. Corporate Secretary.
Operational activity in the same core business > 36 months Operational activity in the same core business > 12 months
If the company still suffering operating or net loss, it will obtain operating
Operating profit at least in the last 1 financial year
and net profit at the latest by the end of 2nd year after listing, based on
financial projection (specific sector: at the latest by the end of 6th year)
Audited Financial Report > 3 years Audited Financial Report > 12 months
Opinion on Audited Financial Report: Unqualified Opinion on Audited Financial Report: Unqualified
(the last 2 financial years & the latest interim, if any) (the last 1 financial year and the latest interim, if any)
Net Tangible Asset > IDR 100 billion Net Tangible Asset > IDR 5 billion
Number of shares owned by non-controlling shareholders and Number of shares owned by non-controlling shareholders and non-
non-substantial shareholders min. 300 million shares and: substantial shareholders min. 150 million shares and:
• 20% of total shares, for equity < IDR 500 billion • 20% of total shares, for equity < IDR 500 billion
• 15% of total shares, for equity IDR 500 billion – IDR 2 trillion • 15% of total shares, for equity IDR 500 billion – IDR 2 trillion
• 10% of total shares, for equity > IDR 2 trillion • 10% of total shares, for equity > IDR 2 trillion
Number of Shareholders > 1000 parties Number of Shareholders > 500 parties
RELATED REGULATIONS
For detail information regarding the requirements and procedures for public offering and shares listing in IDX, you
can get the updated regulations on OJK website (www.ojk.go.id) and IDX website (www.idx.co.id).
OJK has issued regulations regarding shares public offering, i.e. OJK Rule Number:
- IX.A.1 regarding General Requirements Regarding Submission Of A Registration Statement
- IX.A.2 regarding Registration Procedures for A Public Offering
- IX.A.3 regarding Procedures for Requesting Amendments and or Additional Information to A Registration
Statement
- IX.A.4 regarding Procedure for Suspending A Public Offering
- IX.A.5 regarding Offerings Which Are Not Considered to be Public Offerings
- IX.A.6 regarding Restriction on Shares Issued Prior to Public Offering
- IX.A.7 regarding Responsibilities of Allotment Manager with Respect to Subscriptions and Allotments of
Securities in Public Offering
- IX.A.8 regarding Preliminary Prospectus and Information Memorandum
- IX.A.9 regarding Promotions Marketing Securities, Including Advertisements, Brochures or Other Public
Communications
- IX.A.12 regarding Public Offering by Shareholders
- IX.C.1 regarding Form and Content of A Registration Statement for A Public Offering
- IX.C.2 regarding Guidelines Concerning The Form and Content of A Prospectus for A Public Offering
- IX.C.3 regarding Guidelines Concerning The Form and Content of A Summary Prospectus for A Public Offering
- IX.C.7 regarding Form and Content of Registration Statement for A Public Offering by A Medium or Small
Business
- IX.C.8 regarding Guidelines Concerning The Form and Content of A Prospectus for A Public Offering by Medium
or Small Business
IDX has issued regulations regarding shares listing requirements and procedures, i.e. IDX Rule Number I-A
regarding The Listing of Shares (Stock) and Equity-Type Securities Other Than Stock Issued by The Listed Company
and IDX Rule Number I-A.1 regarding The Listing of Shares (Stock) and Equity-Type Securities Other Than Stock
Issued by The Company in the Field of Mineral and Coal Mining.
8
KEY SUCCESS FACTORS OF IPO
Since the underwriter plays a significant role in IPO
process, it is important for the company to assign
(a) Attractive Information About Company the right underwriter.
9
FREQUENTLY ASKED QUESTIONS A non-operating mineral and coal mining company
can conduct the IPO, as long as the company has
What the difference between the bank funding and already completed the exploration stages, having
the IPO funding? mining production operation permit, clear and clean
Funding from bank is a loan that should be paid back certificate from Directorate General of Mineral and
at the maturity date. The company also pays interest Coal, report of reserves and resources by competent
or fee to the bank. The bank often requires asset as professional, feasibility study, and fulfill other
guarantee. Funding from IPO is a long term funding requirements regulated by Indonesia Stock
without guarantee, where the investor will own Exchange.
some portion of the company’s shares. The investors
will have voting rights in the general shareholders How long it would take to go public?
meeting and expect dividend from the company. The Each company needs different time to prepare the
general shareholders meeting decides the dividend IPO. Most of the companies need 3 till 12 months to
payment, with regard to the company’s financial prepare the IPO. The duration needed depends on
condition. the offering size, the complexity of business and
company’s structure, the readiness of financial
What business of the company that is suitable for report and financial projection, the restructuring
IPO? process needed prior to IPO (if any), the
Basically, companies operate in any businesses are completeness of company’s documents, etc.
able to go public. Investors tend to be interested to
buy company’s shares when the company has a How does the company select the best underwriter
good track record on performance growth, highly and capital market supporting professionals?
competitive, has prospective business plan and The company may select the professionals based on
strong management. their experiences in assisting IPO, services fee, and
competencies. The company should ensure that the
Does the company need to fulfill a specific number capital market supporting professionals are the ones
on the asset, equity, revenue, or profit? that have already registered in OJK.
There is no specific requirement. Concerning the
numbers in the financial report, the company should How much is the total cost of the IPO?
fulfill the minimum net tangible (NTA) requirement The IPO cost includes the services fee of public
of IDR 5 billion. NTA is calculated as total assets accountant, legal counsel, notary, underwriter,
deducted by intangible assets, deferred tax assets, listing, shares administration, shares collective
total liabilities and non-controlling interest. depository, advertisement in the newspaper,
prospectus printing, etc. There are a lot of choices of
How much the minimum and maximum proceeds professionals with different fee rate. Generally, the
that the company can obtain from IPO? total cost of the IPO is less than 5% of the total
The company can obtain proceeds from IPO without proceeds. The higher the proceeds, the percentage
specific limitation. However, the proceeds depend of the cost tends to be lower.
on the number of shares offered to the public and
the shares price. The company may determine When is the best time to go public?
required proceeds by considering the business plan The best time to go public is when the company
and the maximum percentage of public ownership grows and needs capital for expansion and the stock
that the founders still permit. market is in a finest condition. However, the best
time to prepare the company’s IPO is now, hence
If the company suffers loss, can it still go public? when the right time comes, the company will
The company can still go public and list its shares in completely ready to go public.
Indonesia Stock Exchange, eventhough it suffers
loss. Indonesia Stock Exchange will list the How is the valuation of the stock price to be
company’s shares in the Development Board. In offered to the investors?
order to attract investor demand, the company The company can work together with the
needs to convince the investor by providing a underwriter to obtain an insight about the investor
promising prospect on the prospectus. demand on IPO plan. It may need a book building
process, where investor interest on company’s
shares are collected and considered.
10
Going public in Indonesia Stock Exchange is a big leap
towards company’s growth transformation
PT ABM Investama Tbk. PT Bank Mega Tbk. PT Century Textile Industry Tbk. PT Golden Retailindo Tbk.
PT Ace Hardware Indonesia Tbk. PT Bank Mestika Dharma Tbk. PT Champion Pacific Indonesia Tbk. PT Goodyear Indonesia Tbk.
PT Acset Indonusa Tbk. PT Bank Mitraniaga Tbk. PT Chandra Asri Petrochemical Tbk. PT Gowa Makassar Tourism Development Tbk.
PT Adaro Energy Tbk. PT Bank MNC Internasional Tbk. PT Charoen Pokphand Indonesia Tbk. PT Gozco Plantations Tbk.
PT Adhi Karya (Persero) Tbk. PT Bank Nationalnobu Tbk. PT Chitose Internasional Tbk. PT Graha Layar Prima Tbk.
PT Adi Sarana Armada Tbk. PT Bank Negara Indonesia (Persero) Tbk. PT Ciputra Development Tbk. PT Grahamas Citrawisata Tbk.
PT Adira Dinamika Multi Finance Tbk. PT Bank Nusantara Parahyangan Tbk. PT Ciputra Property Tbk. PT Grand Kartech Tbk.
PT Agung Podomoro Land Tbk. PT Bank OCBC NISP Tbk. PT Ciputra Surya Tbk. PT Greenwood Sejahtera Tbk.
PT Akasha Wira International Tbk. PT Bank of India Indonesia Tbk. PT Cita Mineral Investindo Tbk. PT Gudang Garam Tbk.
PT Akbar Indo Makmur Stimec Tbk. PT Bank Pan Indonesia Tbk. PT Citatah Tbk. PT Gunawan Dianjaya Steel Tbk.
PT AKR Corporindo Tbk. PT Bank Panin Syariah Tbk. PT Citra Maharlika Nusantara Corpora Tbk. PT H.M. Sampoerna Tbk.
PT Bank Pembangunan Daerah Jawa
PT Alakasa Industrindo Tbk. PT Citra Marga Nusaphala Persada Tbk. PT Hanson International Tbk.
Barat Dan Banten Tbk.
PT Bank Pembangunan Daerah Jawa
PT Alam Karya Unggul Tbk. PT Citra Tubindo Tbk. PT Harum Energy Tbk.
Timur Tbk.
PT Alam Sutera Realty Tbk. PT Bank Permata Tbk. PT Clipan Finance Indonesia Tbk. PT HD Capital Tbk.
PT Alkindo Naratama Tbk. PT Bank Pundi Indonesia Tbk. PT Colorpak Indonesia Tbk. PT Hero Supermarket Tbk.
PT Alumindo Light Metal Industry Tbk. PT Bank QNB Indonesia Tbk. PT Cowell Development Tbk. PT Hexindo Adiperkasa Tbk.
PT Anabatic Technologies Tbk. PT Bank Rakyat Indonesia (Persero) Tbk. PT Danasupra Erapacific Tbk. PT Holcim Indonesia Tbk.
PT Ancora Indonesia Resources Tbk. PT Bank Rakyat Indonesia Agroniaga Tbk. PT Danayasa Arthatama Tbk. PT Hotel Mandarine Regency Tbk.
PT Aneka Tambang (Persero) Tbk. PT Bank Sinarmas Tbk. PT Darma Henwa Tbk. PT Hotel Sahid Jaya International Tbk.
PT Apac Citra Centertex Tbk. PT Bank Tabungan Negara (Persero) Tbk. PT Darya-Varia Laboratoria Tbk. PT Humpuss Intermoda Transportasi Tbk.
PT Apexindo Pratama Duta Tbk. PT Bank Tabungan Pensiunan Nasional Tbk. PT Delta Dunia Makmur Tbk. PT ICTSI Jasa Prima Tbk.
PT Argha Karya Prima Industry Tbk. PT Bank Victoria International Tbk. PT Delta Djakarta Tbk. PT Impack Pratama Industri Tbk.
PT Argo Pantes Tbk. PT Bank Windu Kentjana International Tbk. PT Destinasi Tirta Nusantara Tbk. PT Indah Kiat Pulp & Paper Tbk.
PT Arita Prima Indonesia Tbk. PT Bank Woori Saudara Indonesia 1906 Tbk. PT Dharma Samudera Fishing Industries Tbk. PT Indal Aluminium Industry Tbk.
PT Arpeni Pratama Ocean Line Tbk. PT Bank Yudha Bhakti Tbk. PT Dharma Satya Nusantara Tbk. PT Indika Energy Tbk.
PT Arthavest Tbk. PT Bara Jaya International Tbk. PT Dian Swastatika Sentosa Tbk. PT Indo Acidatama Tbk.
PT Arwana Citramulia Tbk. PT Baramulti Suksessarana Tbk. PT Dua Putra Utama Makmur Tbk. PT Indo Kordsa Tbk.
PT Asahimas Flat Glass Tbk. PT Barito Pacific Tbk. PT Duta Anggada Realty Tbk. PT Indo Straits Tbk.
PT Asia Pacific Fibers Tbk. PT Batavia Prosperindo Finance Tbk. PT Duta Pertiwi Nusantara Tbk. PT Indo Tambangraya Megah Tbk.
PT Asiaplast Industries Tbk. PT Batavia Prosperindo International Tbk. PT Duta Pertiwi Tbk. PT Indocement Tunggal Prakarsa Tbk.
PT Astra Agro Lestari Tbk. PT Bayan Resources Tbk. PT Dwi Aneka Jaya Kemasindo Tbk. PT Indofarma (Persero) Tbk.
PT Astra Graphia Tbk. PT Bayu Buana Tbk. PT Dyandra Media International Tbk. PT Indofood CBP Sukses Makmur Tbk.
PT Astra International Tbk. PT Bekasi Asri Pemula Tbk. PT Eagle High Plantations Tbk. PT Indofood Sukses Makmur Tbk.
PT Astra Otoparts Tbk. PT Bekasi Fajar Industrial Estate Tbk. PT Eka Sari Lorena Transport Tbk. PT Indomobil Multi Jasa Tbk.
PT Asuransi Bina Dana Arta Tbk. PT Benakat Integra Tbk. PT Ekadharma International Tbk. PT Indomobil Sukses Internasional Tbk.
PT Asuransi Bintang Tbk. PT Bentoel Internasional Investama Tbk. PT Elang Mahkota Teknologi Tbk. PT Indonesia Pondasi Raya Tbk.
PT Asuransi Dayin Mitra Tbk. PT Berau Coal Energy Tbk. PT Electronic City Indonesia Tbk. PT Indonesia Prima Property Tbk.
PT Asuransi Harta Aman Pratama Tbk. PT Berlian Laju Tanker Tbk. PT Elnusa Tbk. PT Indonesia Transport & Infrastructure Tbk.
PT Asuransi Jasa Tania Tbk. PT Berlina Tbk. PT Energi Mega Persada Tbk. PT Indonesian Paradise Property Tbk.
PT Asuransi Mitra Maparya Tbk. PT Betonjaya Manunggal Tbk. PT Enseval Putera Megatrading Tbk. PT Indopoly Swakarsa Industry Tbk.
PT Asuransi Multi Artha Guna Tbk. PT BFI Finance Indonesia Tbk. PT Equity Development Investment Tbk. PT Indo-Rama Synthetics Tbk.
PT Asuransi Ramayana Tbk. PT Bhuwanatala Indah Permai Tbk. PT Erajaya Swasembada Tbk. PT Indoritel Makmur Internasional Tbk.
PT Ateliers Mecaniques D’Indonesie Tbk. PT Binakarya Jaya Abadi Tbk. PT Eratex Djaja Tbk. PT Indosat (Persero) Tbk.
PT Atlas Resources Tbk. PT Bintang Mitra Semestaraya Tbk. PT Eterindo Wahanatama Tbk. PT Indospring Tbk.
PT Austindo Nusantara Jaya Tbk. PT BISI International Tbk. PT Eureka Prima Jakarta Tbk. PT Industri Jamu dan Farmasi Sido Muncul Tbk.
PT Bakrie & Brothers Tbk. PT Blue Bird Tbk. PT Ever Shine Tex Tbk. PT Inovisi Infracom Tbk.
PT Bakrie Sumatera Plantations Tbk. PT Borneo Lumbung Energi & Metal Tbk. PT Evergreen Invesco Tbk. PT Intan Baruprana Finance Tbk.
PT Bakrie Telecom Tbk. PT Buana Finance Tbk. PT Exploitasi Energi Indonesia Tbk. PT Intanwijaya International Tbk.
PT Bakrieland Development Tbk. PT Buana Listya Tama Tbk. PT Express Transindo Utama Tbk. PT Inter Delta Tbk.
PT Bali Towerindo Sentra Tbk. PT Budi Starch & Sweetener Tbk. PT Fajar Surya Wisesa Tbk. PT Intermedia Capital Tbk.
PT Bank Agris Tbk. PT Bukaka Teknik Utama Tbk. PT Fast Food Indonesia Tbk. PT Inti Agri Resources Tbk.
PT Bank Artha Graha Internasional Tbk. PT Bukit Darmo Property Tbk. PT First Media Tbk. PT Inti Bangun Sejahtera Tbk.
PT Bank Bukopin Tbk. PT Bukit Uluwatu Villa Tbk. PT FKS Multi Agro Tbk. PT Intikeramik Alamasri Industri Tbk.
PT Bank Bumi Arta Tbk. PT Bumi Citra Permai Tbk. PT Fortune Indonesia Tbk. PT Intiland Development Tbk.
PT Bank Capital Indonesia Tbk. PT Bumi Resources Minerals Tbk. PT Fortune Mate Indonesia Tbk. PT Intraco Penta Tbk.
PT Bank Central Asia Tbk. PT Bumi Resources Tbk. PT Gading Development Tbk. PT Island ConcePTs Indonesia Tbk.
PT Bank CIMB Niaga Tbk. PT Bumi Serpong Damai Tbk. PT Gajah Tunggal Tbk. PT J Resources Asia Pasifik Tbk.
PT Jakarta International Hotels &
PT Bank Danamon Indonesia Tbk. PT Bumi Teknokultura Unggul Tbk. PT Garda Tujuh Buana Tbk.
Development Tbk.
PT Bank Dinar Indonesia Tbk. PT Cakra Mineral Tbk. PT Garuda Indonesia (Persero) Tbk. PT Jakarta Kyoei Steel Works Tbk.
PT Bank Harda International Tbk. PT Capitalinc Investment Tbk. PT Garuda Metalindo Tbk. PT Jakarta Setiabudi Internasional Tbk.
PT Bank Ina Perdana Tbk. PT Capitol Nusantara Indonesia Tbk. PT Gema Grahasarana Tbk. PT Japfa Comfeed Indonesia Tbk.
PT Bank JTrust Indonesia Tbk. PT Cardig Aero Services Tbk. PT Global Mediacom Tbk. PT Jasa Marga (Persero) Tbk.
PT Bank Mandiri (Persero) Tbk. PT Catur Sentosa Adiprana Tbk. PT Global Teleshop Tbk. PT Jasuindo Tiga Perkasa Tbk.
PT Bank Maspion Indonesia Tbk. PT Central Omega Resources Tbk. PT Golden Eagle Energy Tbk. PT Jaya Agra Wattie Tbk.
PT Bank Mayapada Internasional Tbk. PT Central Proteina Prima Tbk. PT Golden Energy Mines Tbk. PT Jaya Konstruksi Manggala Pratama Tbk.
PT Centratama Telekomunikasi Indonesia
PT Bank Maybank Indonesia Tbk. PT Golden Plantation Tbk. PT Jaya Pari Steel Tbk.
Tbk.
11
PT Jaya Real Property Tbk. PT Mitrabahtera Segara Sejati Tbk. PT Puradelta Lestari Tbk. PT Sunson Textile Manufacturer Tbk.
PT Jembo Cable Company Tbk. PT Mitrabara Adiperdana Tbk. PT Pyridam Farma Tbk. PT Suparma Tbk.
PT Kabelindo Murni Tbk. PT MNC Investama Tbk. PT Radana Bhaskara Finance Tbk. PT Supra Boga Lestari Tbk.
PT Supreme Cable Manufacturing &
PT Kalbe Farma Tbk. PT MNC Kapital Indonesia Tbk. PT Radiant Utama Interinsco Tbk.
Commerce Tbk.
PT Kawasan Industri Jababeka Tbk. PT MNC Land Tbk. PT Ramayana Lestari Sentosa Tbk. PT Surya Citra Media Tbk.
PT Kedaung Indah Can Tbk. PT MNC Sky Vision Tbk. PT Ratu Prabu Energi Tbk. PT Surya Esa Perkasa Tbk.
PT Kedawung Setia Industrial Tbk. PT Modern Internasional Tbk. PT Red Planet Indonesia Tbk. PT Surya Semesta Internusa Tbk.
PT Keramika Indonesia Assosiasi Tbk. PT Modernland Realty Tbk. PT Reliance Securities Tbk. PT Surya Toto Indonesia Tbk.
PT Kertas Basuki Rachmat Indonesia Tbk. PT Mulia Industrindo Tbk. PT Renuka Coalindo Tbk. PT Suryamas Dutamakmur Tbk.
PT Kimia Farma (Persero) Tbk. PT Multi Agro Gemilang Plantation Tbk. PT Resource Alam Indonesia Tbk. PT Taisho Pharmaceutical Indonesia Tbk.
PT Tambang Batubara Bukit Asam
PT Kino Indonesia Tbk. PT Multi Bintang Indonesia Tbk. PT Ricky Putra Globalindo Tbk.
(Persero) Tbk.
PT KMI Wire & Cable Tbk. PT Multi Indocitra Tbk. PT Rig Tenders Indonesia Tbk. PT Tanah Laut Tbk.
PT Telekomunikasi Indonesia (Persero)
PT Kobexindo Tractors Tbk. PT Multi Prima Sejahtera Tbk. PT Rimau Multi Putra Pratama Tbk.
Tbk.
PT Kokoh Inti Arebama Tbk. PT Multifiling Mitra Indonesia Tbk. PT Rimo International Lestari Tbk. PT Tembaga Mulia Semanan Tbk.
PT Krakatau Steel (Persero) Tbk. PT Multipolar Tbk. PT Ristia Bintang Mahkotasejati Tbk. PT Tempo Intimedia Tbk.
PT Kresna Graha Investama Tbk. PT Multipolar Technology Tbk. PT Roda Vivatex Tbk. PT Tempo Scan Pacific Tbk.
PT Lamicitra Nusantara Tbk. PT Multistrada Arah Sarana Tbk. PT Rukun Raharja Tbk. PT Tifa Finance Tbk.
PT Langgeng Makmur Industri Tbk. PT Mustika Ratu Tbk. PT Salim Ivomas Pratama Tbk. PT Tifico Fiber Indonesia Tbk.
PT Lautan Luas Tbk. PT Nippon Indosari Corpindo Tbk. PT Samindo Resources Tbk. PT Tiga Pilar Sejahtera Food Tbk.
PT Leo Investments Tbk. PT Nipress Tbk. PT Sampoerna Agro Tbk. PT Tigaraksa Satria Tbk.
PT Leyand International Tbk. PT Nirvana Development Tbk. PT Samudera Indonesia Tbk. PT Timah (Persero) Tbk.
PT Limas Indonesia Makmur Tbk. PT Nusa Konstruksi Enjiniring Tbk. PT Sarana Meditama Metropolitan Tbk. PT Tiphone Mobile Indonesia Tbk.
PT Link Net Tbk. PT Nusa Raya Cipta Tbk. PT Sarana Menara Nusantara Tbk. PT Tira Austenite Tbk.
PT Lion Metal Works Tbk. PT Nusantara Infrastructure Tbk. PT Saranacentral Bajatama Tbk. PT Tirta Mahakam Resources Tbk.
PT Lionmesh Prima Tbk. PT Nusantara Inti Corpora Tbk. PT Saraswati Griya Lestari Tbk. PT Toba Bara Sejahtra Tbk.
PT Lippo Cikarang Tbk. PT Onix Capital Tbk. PT Saratoga Investama Sedaya Tbk. PT Toba Pulp Lestari Tbk.
PT Lippo General Insurance Tbk. PT Pabrik Kertas Tjiwi Kimia Tbk. PT Sat Nusapersada Tbk. PT Total Bangun Persada Tbk.
PT Lippo Karawaci Tbk. PT Pacific Strategic Financial Tbk. PT Sawit Sumbermas Sarana Tbk. PT Tower Bersama Infrastructure Tbk.
PT Lippo Securities Tbk. PT Pakuwon Jati Tbk. PT Sejahteraraya Anugrahjaya Tbk. PT Trada Maritime Tbk.
PT Logindo Samudramakmur Tbk. PT Pan Brothers Tbk. PT Sekar Bumi Tbk. PT Trans Power Marine Tbk.
PT Lotte Chemical Titan Tbk. PT Panasia Indo Resources Tbk. PT Sekar Laut Tbk. PT Tri Banyan Tirta Tbk.
PT Magna Finance Tbk. PT Panca Global Securities Tbk. PT Sekawan Intipratama Tbk. PT Trias Sentosa Tbk.
PT Mahaka Media Tbk. PT Panin Financial Tbk. PT Selamat Sempurna Tbk. PT Trikomsel Oke Tbk.
PT Majapahit Inti Corpora Tbk. PT Panin Sekuritas Tbk. PT Semen Baturaja (Persero) Tbk. PT Trimegah Securities Tbk.
PT Malindo Feedmill Tbk. PT Paninvest Tbk. PT Semen Indonesia (Persero) Tbk. PT Trisula International Tbk.
PT Mandala Multifinance Tbk. PT Panorama Sentrawisata Tbk. PT Sentul City Tbk. PT Triwira Insanlestari Tbk.
PT Mandom Indonesia Tbk. PT Pelangi Indah Canindo Tbk. PT Sepatu Bata Tbk. PT Truba Alam Manunggal Engineering Tbk.
PT Martina Berto Tbk. PT Pelat Timah Nusantara Tbk. PT Siantar Top Tbk. PT Trust Finance Indonesia Tbk.
PT Pelayaran Nasional Bina Buana
PT Mas Murni Indonesia Tbk. PT Sidomulyo Selaras Tbk. PT Tunas Alfin Tbk.
Raya Tbk.
PT Maskapai Reasuransi Indonesia Tbk. PT Pelayaran Nelly Dwi Putri Tbk. PT Sierad Produce Tbk. PT Tunas Baru Lampung Tbk.
PT Matahari Department Store Tbk. PT Pelayaran Tempuran Emas Tbk. PT Sigmagold Inti Perkasa Tbk. PT Tunas Ridean Tbk.
PT Pembangunan Graha Lestari Indah PT Ultra Jaya Milk Industry & Trading
PT Matahari Putra Prima Tbk. PT Siloam International Hospitals Tbk.
Tbk. Company Tbk.
PT Mayora Indah Tbk. PT Pembangunan Jaya Ancol Tbk. PT Sinarmas Multiartha Tbk. PT Unggul Indah Cahaya Tbk.
PT Medco Energi Internasional Tbk. PT Perdana Bangun Pusaka Tbk. PT Sitara Propertindo Tbk. PT Unilever Indonesia Tbk.
PT Media Nusantara Citra Tbk. PT Perdana Gapuraprima Tbk. PT Siwani Makmur Tbk. PT United Tractors Tbk.
PT Mega Manunggal Property Tbk. PT Perdana Karya Perkasa Tbk. PT Skybee Tbk. PT Vale Indonesia Tbk.
PT Megapolitan Developments Tbk. PT Permata Prima Sakti Tbk. PT SLJ Global Tbk. PT Verena Multi Finance Tbk.
PT Perusahaan Gas Negara (Persero)
PT Merck Sharp Dohme Pharma Tbk. PT Smart Tbk. PT Victoria Insurance Tbk.
Tbk.
PT Merck Tbk. PT Petrosea Tbk. PT Smartfren Telecom Tbk. PT Victoria Investama Tbk.
PT Merdeka Copper Gold Tbk. PT Pikko Land Development Tbk. PT SMR Utama Tbk. PT Visi Media Asia Tbk.
PT Metro Realty Tbk. PT Pioneerindo Gourmet International Tbk. PT Soechi Lines Tbk. PT Voksel Electric Tbk.
PT Metrodata Electronics Tbk. PT Plaza Indonesia Realty Tbk. PT Solusi Tunas Pratama Tbk. PT Wahana Ottomitra Multiartha Tbk.
PT Metropolitan Kentjana Tbk. PT Polaris Investama Tbk. PT Sona Topas Tourism Industry Tbk. PT Wahana Pronatural Tbk.
PT Metropolitan Land Tbk. PT Polychem Indonesia Tbk. PT Sorini Agro Asia Corporindo Tbk. PT Waskita Karya (Persero) Tbk.
PT Midi Utama Indonesia Tbk. PT Pool Advista Indonesia Tbk. PT Sri Rejeki Isman Tbk. PT WEHA Transportasi Indonesia Tbk.
PT Millennium Pharmacon International Tbk. PT PP (Persero) Tbk. PT Star Pacific Tbk. PT Wicaksana Overseas International Tbk.
PT Minna Padi Investama Tbk. PT PP London Sumatra Indonesia Tbk. PT Star Petrochem Tbk. PT Wijaya Karya (Persero) Tbk.
PT Mitra Adiperkasa Tbk. PT PP Properti Tbk. PT Steady Safe Tbk. PT Wijaya Karya Beton Tbk.
PT Mitra Energi Persada Tbk. PT Prasidha Aneka Niaga Tbk. PT Steel Pipe Industry of Indonesia Tbk. PT Wilmar Cahaya Indonesia Tbk.
PT Mitra International Resources Tbk. PT Prima Alloy Steel Universal Tbk. PT Sugih Energy Tbk. PT Wintermar Offshore Marine Tbk.
PT Mitra Investindo Tbk. PT Primarindo Asia Infrastructure Tbk. PT Sumber Alfaria Trijaya Tbk. PT Wismilak Inti Makmur Tbk.
PT Mitra Keluarga Karyasehat Tbk. PT Provident Agro Tbk. PT Sumber Energi Andalan Tbk. PT XL Axiata Tbk.
PT Mitra Komunikasi Nusantara Tbk. PT Pudjiadi & Sons Tbk. PT Sumi Indo Kabel Tbk. PT Yanaprima Hastapersada Tbk.
PT Mitra Pinasthika Mustika Tbk. PT Pudjiadi Prestige Tbk. PT Summarecon Agung Tbk. PT Yulie Sekurindo Tbk.
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For further information, please contact: 5. Marco Poetra Kawet 13. I Gusti Agung Alit Nityaryana
Head of IDX Repr. Office - Batam Head of IDX Repr. Office - Denpasar
CALL CENTER Komplek Mahkota Raya Blok A Jl. P.B. Sudirman 10 X Kav. 2, Denpasar,
OF INDONESIA STOCK EXCHANGE No. 11, Batam Center, Kota Batam Bali
Gedung Bursa Efek Indonesia, Tower 1 Phone: +62-778-7483348 Phone: +62-361-256701
Jl. Jend. Sudirman Kav. 52-53 Jakarta Fax : +62-778-7483349 Fax : +62-361-256370
Phone : +62-21-5150515 Email : marco.kawet@idx.co.id Email : igusti.agung@idx.co.id
Fax : +62-21-5150330
E-mail : callcenter@idx.co.id 6. Gusti Bagus Ngurah Putra Sandiana 14. Taufan Febiola
Toll Free : 0800-100-9000 (National) Head of IDX Repr. Office - Jambi Head of IDX Repr. Office - Pontianak
Jl. Kolonel Abun Jani No.11A dan 11B, Jl. Gajah Mada no. 193, Pontianak
Umi Kulsum Kel. Selamat Kec. Telanaipura, Phone: +62-561-734112
Head of Prospective Listed Companies Kota Jambi Fax : +62-561-743662
Development Phone: +62-741-65788 Email : taufan.febiola@idx.co.id
Gedung Bursa Efek Indonesia, Tower 1 Fax : +62-741-668199
Jl. Jend. Sudirman Kav. 52-53 Jakarta Email : ngurah.sandiana@idx.co.id 15. Mohammad Wira Adibrata
Phone : +62-21-5150515 ext. 3400 Head of IDX Repr. Office - Banjarmasin
Fax : +62-21-5154153 7. IDX Repr. Office - Palembang Jl. Ahmad Yani, Kilometer (PAL) 1,5, No.
Email : umi.kulsum@idx.co.id Jl. Angkatan 45, No. 13-14, RT 0014/RW 103, Banjarmasin
004, Kel. Demang Lebar Daun, Phone: +62-511-3256985
Dinnoor Aisyah Kec. Ilir Barat I, Kota Palembang Fax : +62-511-3264079
Unit Head of Listed Companies Development Phone: +52-711-564 9259 Email : mohammad.wira@idx.co.id
Gedung Bursa Efek Indonesia, Tower 1 Fax : -
Jl. Jend. Sudirman Kav. 52-53 Jakarta 16. Dinda Ayu Amalliya
Phone : +62-21-5150515 ext.5402 8. Hendi Prayogi Head of IDX Repr. Office - Balikpapan
Fax : +62-21-5150114 Head of IDX Repr. Office - Lampung Jl. Jend. Sudirman No. 33-B,
Email : dinnoor.aisyah@idx.co.id Jl. Jend. Sudirman No. 5D, Balikpapan
Bandar Lampung 35118 Phone: +62-542-421555
Indonesia Stock Exchange (IDX) Phone: +62-721-260188 Fax : +62-542-424333
Representative Office: Fax : +62-721-262048 Email : dinda.amalliya@idx.co.id
Email : hendi.prayogi@idx.co.id
1. Thasrif Murhadi 17. Fahmin Amirullah
Head of IDX Repr. Office - Banda Aceh 9. Hari Mulyono Head of IDX Repr. Office - Makassar
Jl. Tengku Imeum Leung Bata Head of IDX Repr. Office - Bandung Jl. Dr. Sam Ratulangi No. 124, Makassar
No. 84, Banda Aceh Jl. Veteran No. 10, Bandung Phone: +62-411-8910124
Phone: +62-651-35101 Phone: +62-22-4214349 Fax : +62-411-8910125
Fax : +62-651-35102 Fax : +62-22-4214359 Email : fahmin.amirullah@idx.co.id
Email: thasrif.murhadi@idx.co.id Email : hari.mulyono@idx.co.id
18. Fonny The
2. M. Pintor Nasution 10. Stephanus Cahyanto Kristiadi Head of IDX Repr. Office - Manado
Head of IDX Repr. Office - Medan Head of IDX Repr. Office - Semarang Ruko Mega Smart Blok 1 No. 10,
Jl. Asia No. 182, Medan Jl. M. H. Thamrin No. 152, Semarang Komplek Mega Mas,
Phone: +62-61-7332920 Phone: +62-24-8446878 Jl. Piere Tendean,
Fax : +62-61-7332909 Fax : +62-24-8446879 Boulevard Manado 95000
Email : pintor.nasution@idx.co.id Email : stephanus.kristiadi@idx.co.id Phone: +62-431-8881166
Fax : +62-431-8881284
3. Emon Sulaeman 11. Irfan Noor Riza Email : fonny.the@idx.co.id
Head of IDX Repr. Office - Riau Head of IDX Repr. Office - Yogyakarta
Jl. Jenderal Sudirman No. 73 (Sudirman Jl. Mangkubumi No. 111, Yogyakarta 19. Kresna Aditya Payokwa
Bawah), Pekanbaru - Riau Phone: +62-274-587457 Head of IDX Repr. Office - Jayapura
Phone: +62-761-848414 Fax : +62-274-587283 Komplek Jayapura Pacifik Permai Blok H
Fax : +62-761-849456 Email : irfan.noor@idx.co.id No.19, Jayapura
Email : emon.sulaeman@idx.co.id Phone: +62-967-532414
12. Dewi Sriana Rihantyasni Fax : +62-967-532424
4. Reza Sadat Shahmeini Head of IDX Repr. Office - Surabaya Email : kresna.aditya@idx.co.id
Head of IDX Repr. Office - Padang Jl. Basuki Rachmat No. 46, Surabaya
Jl. Pondok No. 90 A, Padang Phone: +62-31-5340888
Phone:+62-751-811330 Fax : +62-31-5342888
Fax : +62-751-811340 Email : dewi.sriana@idx.co.id
Email : reza.shahmeini@idx.co.id December 2015
13