Minister encourages startup companies to list their shares

Minister encourages startup companies to list their shares

Minister of Communication and Informatics Rudiantara. Foto ANTARA News. (Agus Salim)

Jakarta (ANTARA News) - Minister of Communication and Informatics Rudiantara will encourage startup companies that carry the status of "unicorn" to list their shares on the Indonesia Stock Exchange (IDX).

"Startups that are already `unicorned` and have not reached `decacorn,` must be pushed into the Stock Exchange. If later they become `decacorn,` I am afraid that the ecosystem will not be able to," Rudiantara noted on the 30th Anniversary of the Indonesian Issuers Association (AEI) in Jakarta on Thursday.

He stated that "decacorn" was a term for companies that valued more than US$ 10 billion. Meanwhile, "unicorn" is more than $1 billion.

He explained that there are four startup companies in Indonesia whose levels are already included in the "unicorn," namely Go-Jek, Traveloka, Bukalapak, and Tokopedia.

Rudiantara said that he would help startup companies to enter the capital market. However, it depends on each "startup" to see opportunities in finding funds.

Meanwhile, the Chief Financial Services Authority (OJK) Capital Market Supervisor, Hoesen, remarked that startup companies in Indonesia could use the capital market through the mechanism of an initial public offering (IPO) as a source of funding.

"The existing capital market policies can be used or not by the company," he noted.

According to him, each company also has its own strategy in determining future corporate actions.

"It is their decision to want an IPO or not," he pointed out.

editing by Eliswan Azly