NH Investment & Securities Establishes Presence in Indonesia IPO Market... Rises to 3rd Place Locally

Last Year, Managed a Total of 6 IPOs... Totaling 50 Billion KRW

At the listing ceremony of Rockfield Property, led by NH Investment & Securities' local subsidiary in Indonesia on the 14th, Po Purnomo, CEO of Rockfield Property (third from the right), and other officials are taking a commemorative photo. (Photo by NH Investment & Securities)

[Asia Economy Reporter Minwoo Lee] NH Investment & Securities' Indonesia branch has ranked third in the local initial public offering (IPO) market.

NH Investment & Securities announced on the 16th that its Indonesia branch conducted a total of six lead underwriting IPOs this year, securing third place based on the league table. The total scale of the IPOs conducted amounted to 635.4 billion rupiah (approximately 49.7 billion KRW), accounting for 13% of the total public offering size as of the 16th of last month.

The lead underwriting for Rockfield Property Indonesia had a public offering size of 380 billion rupiah, the largest among companies listed this year. Rockfield Property is a real estate development company owning a large-scale mixed-use commercial building in central Jakarta, Indonesia.

Up to this month, there have been a total of 44 IPOs conducted on the Indonesian stock market this year. The Indonesia Stock Exchange has actively utilized digital infrastructure, such as replacing listing ceremonies with YouTube broadcasts for quarantine measures due to COVID-19.

Hongwook Kim, Executive Director of NH Investment & Securities' Global Business Division, stated, "With the introduction of an online system (E-IPO) for participating in public subscription next year, the proportion of general public subscriptions is expected to increase," adding, "We will demonstrate NH Investment & Securities' reputation and capabilities in Indonesia as well."

This content was produced with the assistance of AI translation services.