Post on 01-Oct-2021
transcript
Micromine Mining Conference 2021
29 June 2021
“Road to IPO for Mining Industry”PT BURSA EFEK INDONESIA
Indonesia Capital Market
FOR DISCUSSION PURPOSES ONLY | 5
Capital market function to bridge suppliers of capital and those who need investment platform
for their capital, in the form of equity backed securities and/or long-term debt securities.
RegulatorOtoritas Jasa Keuangan
Securities FirmsUnderwriter, Broker, etc.
Capital Market Supporting
Institutions & ProfessionsNotary, Public Accountant, Legal Firm,
etc.
Self Regulatory OrganizationIDX, KPEI and KSEI
Party who in
need of capital
Parties who
need investment
platform
ISSUER INVESTOR
Source: IDX, WFE
YTD June 2021
Equity IPO trendThe number of listed companies increased sharply for the last three years and the highest among ASEAN
51
28
18
11
3
Indonesia Thailand Malaysia Singapore Philippines
Number of IPO in 2020
55
30 28
13
4
Indonesia Malaysia Thailand Singapore Philippines
Number of IPO in 2019
FOR DISCUSSION PURPOSES ONLY | 7
2523
31
24
1816
37
5755
51
28
15
-
5
10
15
20
25
0
10
20
30
40
50
60
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Jan-
Jun '20
YTD
Jan-
Jun '21
Number of IPO Total Value of New Issue
25 Companies on
the Pipeline
Value
(IDR Tn)
Number
of IPO
Listed Mining & Supporting Companies at a Glance
FOR DISCUSSION PURPOSES ONLY | 10
Minerba Companies at IDX*)
5%
Stocks Bonds
31
05
STOCKSA total of 31 minerba companies
issued stock in Indonesia Stock
Exchange.
STOCKS AND BONDSA total of 5 minerba companies
issued both stocks and bonds in
Indonesia stock exchange.
Minerba Companies by type of instrument at IDX*)
There are 36 Minerba companies
(equivalent to 5%) out of 732 total
listed companies
Total Minerba Market Cap listed
companies Rp188,5 T
*) data as of June 2021
There are 6 mineral and coal companies (equivalent to 13.3%) that
are included in the LQ45 index.
Unlimited
Source of
Funds
Enhance
Company’s
Performance
Improve
Company’s
Image
Accelerate the
Implementation
of GCG
Avoid family
ownerships’
conflictTax Incentive
Optimal Valuation
for
the Company &
the Founders
Ensure
Business
Continuity
Getting
Strategic
Partnership
BENEFIT OF GOING PUBLIC Employees with
High Loyalty and
Professionalism
Provide liquidity
for owner,
investor &
employee
FOR DISCUSSION PURPOSES ONLY | 12
IPO & LISTING PROCESS
Internal and documents preparation, helped by
underwriter & supporting professions
PREPARATION
Evaluation Process
by OJK & BEI
EVALUATION
Registration
Statement
Preliminary
Agreement
Application to IDX
Collective Stock
Deposit Request to
KSEI
Pre-effective
Statement
Principle
Approval
Effective
StatementListing Approval
Listing & trading
(Secondary Market)
Initial Public
Offering( Primary
Market)
Duration Process: varies
e-IPO
*Depends on internal readiness
of the company
BOOK BUILDING IPO LISTING
Demand Pooling
& pricing
PROSPEKTUS
Duration Process: ± 3-4 months
PRIMARY MARKET SECONDARY MARKET
IPO
PROCEED
e-Registration
FOR DISCUSSION PURPOSES ONLY | 13
C R I T E R I AE Q U I T Y L I S T I N G B O A R D
M A I N B O A R D D E V E L O P M E N T B O A R D
Incorporated
Independent Commissioner
Corporate Secretary
Operational Lifetime(posted operating revenues)
Operating Profit
Audited Financial Report
Capital
Perseroan Terbatas (PT) Perseroan Terbatas (PT) Perseroan Terbatas (PT)
Yes (Min. 30%) Yes (Min. 30%) Yes, with 6-12 months transition / adjusting time
Yes Yes Yes, with 6-12 months transition / adjusting time
Yes Yes Yes, with 6-12 months transition / adjusting time
> 36 Months > 12 MonthsGenerated revenue
in the last commercial year
> 1 YearMay experience loss
but should have been operating & net profit
within 2 or 6 years based on projection
May experience loss
but should have been operating & net profit within
6 years based on projection
Min. 3 Years
(2 Years Unqualified Opinion)Min. 12 Months (1 Year Unqualified Opinion)
Min. 12 months
(unqualified opinion)
NTA* > Rp100 billion
NTA* > Rp5 billion
Revenue > Rp40 B & MarCap > Rp200 B
GO
OD
CO
RP
OR
AT
E
GO
VE
RN
AN
CE
AC
CO
UN
TIN
G &
FIN
AN
CE
Not applicable
(in compliance with POJK 53: Asset < Rp250
billion)
EQUITY LISTING REQUIREMENT ON IDX*)
Op. Profit > Rp1 B & MarCap > Rp100 BOR
OR
Number of owned shares
by non controlling & non
majority shareholder
Number of Shareholder
Min. 300mn shares:
Min. 20%
≥ 1,000 parties ≥ 500 parties ≥ 300 parties
CA
PIT
AL
STR
UC
TU
RE
Equity Total Share
< Rp500 Billion 20%
Rp500 B - Rp2T 15%
> Rp2 Trillion 10%
Min. 150mn shares:
Equity Total Share
< Rp500 Billion 20%
Rp500 B - Rp2T 15%
> Rp2 Trillion 10%
IPO Share Price ≥Rp100 ≥Rp100 ≥ Rp50
Audit Committee &
Unit of Internal Audit
A C C E L E R A T I O N B O A R D
*NTA (Net Tangible Asset) : Total Asset – Intangible Asset – Deferred Tax Asset– Total Liabilities – Non-Controlling Interest
FOR DISCUSSION PURPOSES ONLY | 14
Additional Listing Requirement for Minerba Companies*)
FOR DISCUSSION PURPOSES ONLY | 15
In Accordance with I-A.1 Listing Rules
Exploration Operation Production Sales stage
2 3 41 Appointment of
company’s Technical
Director
Mining
Business
License
(“IUP”)
Has proven & probable
reserve signed by
Competent Person
Has Clean and Clear
Statement from Ditjen
Minerba
Minerba Company
General
Requirements
:
1 Feasibility Study
signed by
Competent Person
2 Mining Business
License – Production
Operation (“IUP-OP”)
3 Business
Feasibility Study
done by appraisal
4 Profit
Projection
on 4th years
6 Work Plan and
Budget submitted
to authorized
institution
5 Statement of Information
Validity and Relevancy
signed by Competent
Person (1-year max)
*) Additional requirements for
Minerba Companies that:
- Have not started production
stages, or
- Have started production
stages but have not booked
revenue
:
DISCLAIMER
The facts and opinions stated or expressed in this publication are for information purposes only andare not necessarily and must not be relied upon as being those of the publisher or of the institutionsfor which the contributing authors work. Although every care has been taken to ensure the accuracyof the information contained within the publication, it should not be by any person relied upon as thebasis for taking any action or making any decision. The Indonesia Stock Exchange cannot be heldliable or otherwise responsible in anyway for any advice, action taken, or decision made on the basisof the facts and opinions stated or expressed or stated within this publication
INFORMASI LEBIH LANJUT
DAPAT MENGHUBUNGI:
PT BURSA EFEK INDONESIADIREKTORAT PENILAIAN PERUSAHAAN
JAKARTA
GEDUNG BEI TOWER 1, LANTAI 4
JL. JEND. SUDIRMAN KAV 52-53, JAKARTA
TELP: 021 5150515gopublic@idx.co.id
“The good parts about being a public
company are increased discipline,
increased execution and increased
transparency to make sure that you
are really building a company for a
hundred years” – Dan Rosensweig