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January 9, 2025 | 07:15 pm
TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) recorded a total of Rp49.91 trillion collected through corporate actions conducted by listed companies throughout 2024. IDX Director of Company Assessment I Gede Nyoman Yetna said these corporate actions were divided into two schemes; with the right issue (HMETD) and without HMETD.
"Throughout 2024, 15 listed companies conducted corporate actions with HMETD, with a total fund of Rp34.42 trillion. The financial and infrastructure sectors dominated the largest contributions with Rp14.15 trillion and Rp13.15 trillion, respectively," Nyoman said on Wednesday, January 8, 2025.
On the other hand, for corporate actions excluding HMETD, 17 companies were recorded as collecting funds amounting to Rp15.49 trillion. The Consumer Non-Cyclical and Consumer Cyclical sectors were the largest contributors with Rp6.61 trillion and Rp2.94 trillion, respectively.
Nyoman added that companies often use corporate actions to meet free float requirements, one of which is through divestment by controllers to increase the proportion of public ownership.
"Companies in the financial sector typically use corporate actions with HMETD to raise capital and meet minimum core capital requirements. Meanwhile, the infrastructure sector uses the funds to finance projects and strengthen the capital structure," he said.
Meanwhile, for actions without HMETD, the main objectives vary but are generally focused on strengthening the company's capital structure. Nyoman emphasized that this corporate action reflects the efforts of listed companies to meet their financing needs and support the sustainability of their operations amid economic dynamics.
The raising of funds through this corporate action demonstrates the important role of the capital market in providing access to finance for companies. The IDX, Nyoman said, will continue to support various corporate initiatives aimed at strengthening national economic growth.
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