
IPO Process
IPO Process

Preliminary Considerations*
Several things that need to be considered on the preliminary stage:
- How much amount of fund required by the Company from the IPO approximately? This needs to be synergized with the Company’s business plan.
- How much percentage of maximum public float (ownership) desired by the founders? Generally, the founders wanted to maintain their control in the Company. On the other hand, the larger the public float percentage, the Company’s shares will tend to be more actively traded in the Indonesian Stock Exchange so that the liquidity risk of the investors can be reduced.
- For one group with many subsidiaries that consist of several business lines, here are the things that need to be considered:
Which company’s share that will be offered to public?
Will there be a spin-off, merger, acquisition or asset divestment prior to the public offering? - The larger the Company’s value which shares to be offered to public, relatively the more attractive the shares to the investors’ interest.
- Is there any licensing regulations, agreement or any other matters that need to be followed up or amendment to be completed prior to the IPO?
- Is there any significant issues, for instance legal issues that will hurdle the Company’s business continuation and expectedly to disturb the IPO process?
- Does the Company need to change the board of directors and/or commissioners?
Phases of an IPO Execution Process
- Key IPO preparation tasks include the initial restructuring, due diligence by professional parties and the drafting of the prospectus and offering circular
- Thorough initial planning will ensure coordination amongst all parties and strict adherence to the IPO timetable

Professional Parties in IPO Process
- An IPO process requires the involvement and coordination of many professional parties
- CIMB would be comfortable in taking the lead in managing all professional parties throughout the entire IPO process

IPO Timeline – Based on OJK Rule (1/2)

IPO Timeline – Based on OJK Rule (2/2)
