Five Firms To Make IPO In Q2

Jakarta, March 8 (ANTARA) - The Indonesia Stock Exchange (BEI) has predicted at least five prospective issuers will make an initial public offering (IPO) of their shares in the second quarter of 2012. The number would be far higher than that of the first quarter of 2012, BEI Corporate Appraisal Director Eddy Sugito said here on Wednesday. "As I saw from my discussion with a number of stock issue underwriters, many prospective issuers will use financial statements ended December 31, 2011 so that they are most likely to make an IPO as early as in April 2012," he said. He said only a small number of prospective issuers made an IPO of their shares in the first quarter of 2012 because they used quarterly financial statements ended September 30, 2011. "As a matter of fact the market was not good so many companies had little interest to make an IPO," he said. Since early this year three companies have made an IPO of their shares. They are PT TiPhone Mobile Indonesia Tbk (TELE), PT Minnapadi Investama Tbk (PADI) and PT Surya Esa Perkasa Tbk (ESSA). BEI expected the number of companies that will make an IPO of their shares this year to reach 25.