Top 10 Indonesian Issuers with the Largest Initial Public Offerings (IPOs) in 2023

The Indonesia Stock Exchange (IDX) has compiled a list of the 10 companies with the largest initial public offerings (IPOs) in 2023.

First place is held by PT Barito Renewables Energy Tbk. (BREN). 133.78 billion shares were issued at a price of Rp780 per share. The company, owned by tycoon Prajogo Pangestu, listed on the exchange on October 9, 2023.

Second is PT Merdeka Battery Materials Tbk. (MBMA) with 107.99 billion shares issued during its IPO on April 18, 2023. This company is owned by Indonesian conglomerate Garibaldi 'Boy' Thohir, the brother of Erick Thohir, the Minister of State-Owned Enterprises.

Third is PT Nusantara Sejahtera Raya Tbk. (CNMA) with 83.34 billion shares issued during its IPO on August 2, 2023.

Fourth is PT Amman Mineral Internasional Tbk. (AMMN) with 71.91 billion shares listed on July 7, 2023. Fifth is PT Trimegah Bangun Persada Tbk. (NCKL) with 63.09 billion shares issued in its IPO on April 12, 2023.

Indonesia ranked sixth out of 12 exchanges with the most IPOs globally. 79 Indonesian companies went public between January and December 2023.

The Indonesian capital market saw 12.16 million investors in 2023. This is an 18% increase, or 1.85 million people, compared to 2022, which had 10.31 million investors.

Here are the 10 issuers with the largest initial public offerings (IPOs) in 2023:

* BREN (PT Barito Renewables Energy Tbk): 133,786,220,000 shares
* MBMA (PT Merdeka Battery Materials Tbk): April 18, 2023, 107,995,419,900 shares
* CNMA (PT Nusantara Sejahtera Raya Tbk): 83,345,000,000 shares
* AMMN (PT Amman Mineral Internasional Tbk): 71,915,881,656 shares
* NCKL (PT Trimegah Bangun Persada Tbk): 63,098,600,000 shares
* VKTR (PT VKTR Teknologi Mobilitas Tbk): 43,750,000,000 shares
* PGEO (PT Pertamina Geothermal Energy Tbk): 41,396,142,000 shares
* NSSS (PT Nusantara Sawit Sejahtera Tbk): 23,788,235,300 shares
* HUMI (PT Humpuss Maritim Internasional Tbk): 18,046,450,000 shares
* MAHA (PT Mandiri Herindo Adiperkasa Tbk): 16,666,000,000 shares

(See also: Exchanges with the Most IPOs in the Global Capital Market in 2023, Including Indonesia)