The Indonesia Stock Exchange (IDX) has reported that seven companies are in the pipeline to launch initial public offerings (IPO).
IDX Director of Corporate Valuation, I Gede Nyoman Yetna, said four of the seven are medium-scale firms with assets ranging from Rp50 billion (US$3 million) to Rp250 billion, while the remaining three are large-scale companies with assets above Rp250 billion. There are no small-scale companies (assets below Rp50 billion) in the queue.
“As of August 29, 2025, 22 companies have gone public this year, raising Rp10.39 trillion in fresh funds,” Nyoman noted in his written statement on Monday, September 1, 2025.
The seven IPO candidates come from the following sectors:
1 from basic materials;
1 from non-cyclical consumer goods;
1 from financials;
2 from industrials;
1 from technology;
1 from transportation & logistics.
Beyond these upcoming listings, several listed issuers are reportedly preparing subsidiaries for IPOs.
Pani
PT Merdeka Copper Gold (MDKA) is said to be preparing its subsidiary, Pani, which manages a massive gold mining project in Gorontalo, for an IPO this year. A market source told Katadata.co.id that the listing would allow Pani to enter the gold index.
While the IPO rumors are circulating, MDKA has refrained from commenting. “I have no comment on this matter,” Tom Malik, MDKA’s GM for Corporate Communication, said on August 29, 2025.
MDKA’s second quarter (Q2) 2025 report highlighted that the Pani Gold Project has reached 67 percent completion. Detailed engineering and procurement are finalized, contractors are installing processing and power systems, port facilities are operational, and fuel storage construction is complete. Trial operations are targeted for late 2025, with first gold production expected in Q1 2026.
Intam
Another gold mining player, PT Intam, a subsidiary of PT Petrindo Jaya Kreasi (CUAN), is also rumored to be preparing for an IPO. The speculation follows billionaire Prajogo Pangestu’s earlier move to take PT Chandra Daya Investasi (CDIA) − a subsidiary of PT Chandra Asri Pacific (TPIA) − public in July 2025.
“Indeed, the CUAN subsidiary rumored to IPO is PT Intam,” a source familiar with the matter told Katadata.co.id on July 16, 2025.
CUAN’s management responded via an IDX filing, saying the company currently has no concrete IPO plans. However, Corporate Secretary Robertus Maylando Siahaya noted that the group is actively evaluating potential projects and assets.
Summarecon’s investment arm
In the property sector, PT Summarecon Agung (SMRA) is reportedly preparing its property investment arm, Summarecon Investment Property (SMIP), for a potential IPO.
The plan gained traction after Summarecon’s Corporate Secretary, Lydia Tjio, confirmed that the company would conduct an audit of its interim consolidated financial statements as of June 30, 2025, with a reporting deadline of September 30, 2025.
“The audit of the interim financial statements is related to a corporate action planned by the company,” Lydia wrote in her report on August 7, 2025.
This statement reinforces earlier remarks from Summarecon President Director Adrianto Pitojo Adi, who confirmed that an IPO plan for SMIP is still under consideration. He added that the company has not yet decided on timing and will continue monitoring market conditions before proceeding.
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