JAKARTA. The Indonesian Stock Exchange (IDX) records five technology and technology-enabled companies that made their grand entrances into the list of top 50 companies with the highest market capitalisations (big cap) out of 768 listed issuers in IDX. For example, PT Bank Jago Tbk perches at the sixth, while EMTK sits on the ninth.
In the 2021 Capital Market Performance Seminar yesterday (25/1), I Gede Nyoman Yetna, Director of Company Appraisal I of IDX, revealed that Bank Jago has a market capitalisation of IDR 219.5 trillion, followed by PT Elang Mahkota Teknologi Tbk (EMTK) of IDR 139.63 trillion.
Meanwhile, in the 12th position, there is DCI Indonesia Tbk (DCII), with a market cap of IDR 104.83 trillion. Dayamitra Telekomunikasi or Mitratel (MTEL) follows behind in the 24th, holding a market cap of IDR 69.31 trillion. Lastly, Bukalapak rested on the 42nd with a market cap of IDR 44.32 trillion.
According to Yetna, the massive growth of these tech companies has become one of the factors that drive the stock exchange to amend Regulation No I-A concerning the Listing of Stock and Equity-Type Securities Other Than Stock Issued by the Listed Company (Regulation I-A Year 2021) that took effect since Wednesday, December 21, 2021. “The said regulation allows more access to the company, particularly those in the new economy sector, to secure financing from the stock exchange,” he further stated in one of the seminars this week in Jakarta. (AM/ZH)