Digitalization in Indonesia has begun to spread to many aspects, including the stocks field. Recently, apart from ordering IPO shares, it seems that retail investors will soon be able to order corporate bonds and Sukuk through the Electronic Indonesia Public Offering which can be accessed via the e-Ipo website address.
On the web page, it appears that the Indonesia Stock Exchange (IDX) is surveying to explore the interest of potential retail investors in ordering bonds and Sukuk through the platform.
As is known, e-IPO is a platform that provides primary market investment opportunities for retail investors who want to buy IPO shares. However, up to now, it is only limited to stocks, not being able to place orders for bonds and Sukuk.
“IDX is currently surveying the Potential Development of Bonds/Sukuk Public Offerings through the e-IPO System. Click here to participate. Thank you for your participation,” reads the announcement quoted Tuesday (19/4/2022).
The Indonesia Stock Exchange as one of the providers of the Electronic Indonesia Public Offering System (e-IPO System) is currently conducting a study to develop the Bond and Sukuk public offering process through the e-IPO System.
This is done following the mandate of the Financial Services Authority Regulation No. 41/POJK.04/2020 concerning the Implementation of the Electronic Public Offering of Equity Securities, Debt Securities, and/or Sukuk.
In this regulation, electronic public offering activities include Equity Securities, Debt Securities and/or Sukuk, and other Securities as determined by the OJK.
“Currently, the e-IPO system has been used for initial public offerings since early 2021,” the survey said.
The objectives of the survey are first, to find out the interest of market participants in the initial public offering of Corporate EBUS in general and if it is carried out electronically through the e-IPO System.
Then, knowing the parameters used for the Corporate EBUS public offering on the e-IPO System. Also, to collect other inputs from market participants on the e-IPO System and plans to use e-IPO for corporate EBUS public offerings.
“Filling out the survey questionnaire no later than April 29, 2022,” wrote the IDX.
IDX also wants to know whether there is a need for a time limit for bonds and Sukuk offered through e-IPOs, as well as how many bond and Sukuk trading units are deemed appropriate for the expansion of the e-IPO system for bonds and Sukuk.
To note, currently, in the e-IPO share order there is a separation of types of investors and the amount of allotment for investors, where investor orders are separated into retail (orders < Rp 100 million) and non-retail (orders > Rp 100 million).
BEI also asked whether this should also be applied to the initial offering of bonds and Sukuk electronically?
Next, regarding the Minimum Portion of Centralized Allotment. Currently, in stock e-IPOs, there is a minimum amount that must be reserved for Centralized Allotment. So, what if this is also developed in the e-IPO of bonds and Sukuk?
Until now, the survey is still ongoing. There has been no explanation from the IDX board of directors regarding the implementation of ordering corporate bonds and Sukuk via the e-IPO platform.