IDX Sets Ambitious 2026 Targets for IPO and Market Activity

'Lighthouse' IPO Focus

The Indonesia Stock Exchange (IDX) is aggressively targeting six 'lighthouse' initial public offerings (IPOs) in 2026, focusing on large-cap companies with market capitalization exceeding Rp 3 trillion ²

. These 'lighthouse' companies are expected to drive market activity and attract investor interest. Despite this focus on large-cap IPOs, IDX Director Iman Rachman confirmed that no state-owned enterprises (SOEs) are currently in the IPO pipeline ¹

Source 1

https://finance.detik.com/bursa-dan-valas/d-8289319/tak-ada-bumn-di-antrean-ipo-perusahaan-jumbo

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Market Projections for 2026

The IDX has set several ambitious targets for 2026, including:

• Rp 15 trillion Average Daily Trading Value (ADTV)
• 555 total listings, including 50 new IPO companies
• 2 million new Single Investor Identification (SID) accounts

These projections are based on both national and global macroeconomic conditions, reflecting the exchange's optimistic outlook for Indonesia's capital markets.

SOE IPO Landscape

The absence of SOEs in the current IPO queue marks a continuation of the trend observed over the past two years. While the Financial Services Authority (OJK) continues to engage with SOEs regarding IPO readiness, the decision to go public remains with individual companies. OJK's Head of Capital Market Supervision, Inarno Djajadi, emphasized that the IPO decision is a business consideration for each SOE ¹

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Market Implications

The focus on private sector 'lighthouse' companies suggests a shift towards growth in the private corporate sector. With six large-cap IPOs expected, the IDX is positioning itself for potential growth in market activity and investor participation. The projected increase in SID accounts and trading value indicates a broader market expansion strategy.