IDX rolls out discounts for companies looking to list on stock market

first_imgThe Indonesia Stock Exchange (IDX) is preparing a 50 percent discount on initial listing fees for companies wishing to go public to encourage more firms to seek funding through the stock market.IDX assessment director I Gede Nyoman Yetna told the press on Tuesday that newly listed companies would only have to pay around Rp 12.5 million (US$867) to Rp 125 million for an initial listing fee. The fees would depend on which board the companies were listed on, he added.“This applies to companies that want to list their shares on the bourse [through initial public offering (IPO)], as well as to listed companies that want to issue additional new shares,” he said during a virtual press briefing. Topics : “This initiative could also entice more companies to go public or seek more funding through the stock market,” he told The Jakarta Post on Wednesday.Although many investors are still in wait-and-see mode as the coronavirus continues to spread across the globe, Samsul suggested that companies that were seeking funding in the stock market should maintain intensive communication with investors so as to encourage investment.Despite the pandemic, 29 companies had listed their shares in the bourse thus far this year, the most recent one being packaging manufacturer PT Megalestari Epack Sentosaraya, which was listed on Thursday.In the meantime, the bourse is also considering whether to relax some of the trading regulations that have been issued to minimize pressure on the Indonesian stock market.The pandemic has caused a global stock market rout and caused the Jakarta Composite Index (JCI), the IDX’s main gauge, to lose more than 37 percent of its value as it touched its lowest level of 3,937 on March 27.“As we’ve started to see less volatility in the market compared with three months ago, we might discuss [the relaxation] with the OJK,” IDX trading director Laksono Widodo said.The regulations include the ban on pre-opening trading that takes place before the market opens at 9 a.m. and a halt in trading of stocks that have fallen by 7 percent.Laksono, however, could not predict when those regulations would be relaxed as he expected the bourse and the OJK would need time to discuss the matter.“Once we receive approval from the OJK, the change could be applied in a matter of days,” he added.Meanwhile, the IDX on Tuesday also appointed publicly listed coal miner PT Toba Bara Sejahtera director Pandu Patria Sjahrir as its new commissioner representing listed companies.Pandu, who is also the nephew of Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan, replaces publicly listed coal miner PT Adaro Energy president director Garibaldi “Boy” Thohir and will serve for the 2020-2023 period. The IDX also appointed two other commissioners, Heru Handayanto and Karman Pamurahardjo, to represent brokerage firms.center_img For a new share listing, either a rights issue or private placement, companies would only have to pay around Rp 5 million to Rp 75 million. The new fees are effective from Jun. 18 to Dec. 17.IDX president director Inarno Djajadi said last Friday that the incentive was meant as a stimulus for companies that wanted to list their shares on the stock market.“This is also in line with Pak Wimboh’s instruction that self-regulatory organizations should also share the pain with others during this pandemic,” he said, referring to the Financial Services Authority (OJK) chairman.Publicly Listed Companies Association (AEI) executive director Samsul Hidayat lauded the IDX’s move, saying that the incentive would reduce companies’ expenses in listing their shares on the bourse.last_img read more

These are the NBN ready suburbs where property prices have soared

first_imgNational Broadband Network rollout.THESE are the NBN ready suburbs where property prices have grown at a faster pace than the Brisbane average.Internet speed and access to the latest technology were fast becoming a must have for home buyers according to Tech Expert, Angus Kidman.And he said with fibre to the premises (FTTP) connections providing the fastest internet speeds, properties in those suburbs could soon be in demand.Particularly as FTTP was no longer part of the rollout plan and it would be fibre to the node.Mr Kidman said while there were many reasons property prices increased, NBN connection could be an important factor for buyers.Research by identified the top five suburbs in Brisbane, Sydney and Melbourne with the highest number of connections and the quickest NBN speeds.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North2 hours agoNew apartments released at idyllic retirement community Samford Grove Presented by It also analysed the property price growth of these suburbs, comparing before NBN prices with after NBN prices. Brisbane suburbs NBN ready and how their prices have grown. Source: best performing suburb within Brisbane was at Aspley on the Northside where median prices increased 25.53 per cent in the past five years.During the same period the average median price increase across Brisbane was 19.5 per cent.The other top performing Brisbane suburbs, where Kallangur, Calamvale, Parkinson and Boondall.The best performing suburb in Sydney was Blacktown where in the past five years the median house price had increased by 81.9 per cent, compared to the Sydney average during the same period of 66.7 per cent.In Melbourne the best performing NBN ready suburb with fibre to the premises was Carlton where median rose by 45.6 per cent compared to the Melbourne average of 37.4 per cent during the same period.Mr Kidman said while generally that appeared to be good news for those suburbs, not every street was FTTP connected so buyers needed to do their homework before buying.last_img read more

Smelly situation: Bruins’ Zdeno Chara cautions about Tuukka Rask’s farts

first_imgAfter thinking it over, Boston Bruins captain Zdeno Chara provided a moment of laughter naming goalie Tuukka Rask — because of his smelly farts.”You know, the way he farts, it’s just, it just, the smell is awful,” Chara said with a big smile. “He likes his chicken wings and after the chicken wings I sit behind him on the bus, and gotta tell you, like, I gotta control myself sometimes.”You DO NOT want to be around @tuukkarask when he’s eating chicken wings. 🤣 #HockeyAtHome— NHL (@NHL) March 30, 2020Chara, who just turned 43 on March 18 and is now down in Florida with his family, also named Kevan Miller and Charlie Coyle as the players he wouldn’t mind quarantining with.Despite being one of the elder statesmen in the league, the 22-year veteran is known to consistently be in peak form. So of course, Toronto Maple Leafs captain John Tavares was hoping to pick Chara’s brain about staying in shape.”My whole plan was just coming on here and pick Zdeno’s brain of what he’s been doing, his longevity and obviously what he’s done fitness-wise around the league and how legendary it is.” As the NHL’s 2019-20 season continues its pause due to the coronavirus (COVID-19), the league has conducted Zoom chats to keep people engaged.During Monday’s Atlantic Divison conference call, the players were asked to name a teammate they would least want to be quarantined with.last_img read more