when learning about the capital market, especially stocks You’ll often hear the term issuer representing the company that issues shares. The issuer is the one that investors need to “know”.

Each issuer has a level of risk. business potential and different investment policies A card issuer profit sharing program can have an impact on the potential profits that traders and investors can earn.

So what is an issuer and why does it play an important role in the Indonesian capital market? Check out the following checks.

card issuer definition

in Big Indonesian Dictionary (KBBI)The meaning of the word issuer is a business entity (government) that issues valuable paper in exchange.

On the other hand, OJK defines issuers as: IPO parties in accordance with applicable law.

From the above understanding, it can be seen that the securities issuer is the securities issuer or in English as the securities issuer. The issuer can also take the form of a company or government.

Can the government issue shares? The meaning of securities here is not just stocks. But it also includes sukuk bonds, warrants, rights, etc. Bonds and sukuk are not only issued by companies. but can also be issued by the government

Duties of issuers in the capital market

The market is a meeting place for sellers and buyers as well as the capital market. The capital market is a meeting place for institutions or individuals who wish to sell their securities to other institutions or individuals. can buy in the capital market in Indonesia The issuer acts as an institution that sells securities (securities) on the primary market.

Issuers release securities to:

  1. Increase capital to expand the company’s operations
  2. Improve the company’s capital structure
  3. Transfer of ownership of old investors to new investors

If asked if the federal government needs additional funding or not? No taxes? The answer is yes. In some cases, the central government of the Republic of Indonesia needs additional funding to fund projects they operate, such as the COVID-19 vaccine program. fuel subsidies Infrastructure development, etc., even in the case of the United States. Local governments can issue municipal bonds to help run the project.

Often, the Indonesian government and Indonesian banks use these securities or securities to implement monetary policy or as a tool to restructure the state budget. because in the end The government must control the portion of the state budget that comes from foreign debt.

in exchange for this capital Neither the government nor the issuer of any other type of securities are required to provide investors with some operating profit. whether in the form of stock dividends or bond coupons When dividends and coupons are distributed according to the requirements of the relevant issuers.

Issuers can not only issue and sell shares or other securities on the stock exchange. He can also buy back shares that have been issued (buy back) issue new shares or bonds for sale (rights issue) or even delisting from the capital market if necessary.

Here are some examples of issuers who repurchase foreign and domestic stocks:

  • Dell
  • Kalbe Farma
  • agricultural reserve
  • Jaya Real Estate
  • Nippon Indosari Corpora (Sari Roti)
  • Adaro

issuer of securities traded

  1. Stocks: Securities proof of interest. These securities can be further divided into two categories: common stocks and preference shares.
  2. Bonds: Proof of Ownership of the Bonds
  3. Sukuk: Securities are proof of ownership of Shariah debts.
  4. Warrant: The right to subscribe for shares at a specified price.
  5. Convertible Bonds: Bonds that can be exchanged for stocks over time.
  6. ETFs: Investment Tools Similar to Mutual Funds But unit trusts can be traded in the capital market.
  7. Mutual Fund: Securities proving ownership of equity or debt of multiple issuers simultaneously.

Difference Between Issuer and Public Company

Issued by a public limited company But the issuer doesn’t have to be a public company. as mentioned above The issuer can be either a regional government or a federal government. If they issue bonds, Sukuk, or other securities

In addition, according to many sources Securities companies can also merge issuers. This is because it is the issuer of ETFs and mutual funds, not the companies listed in the mutual fund information sheet.

On the other hand, a public limited company is a securities issuer in the form of a limited company that issues minimum share capital. 3,000,000,000 IDR Shares must have at least 300 investors.

issuer example

Here are some examples of issuers from public companies:

  1. PT Jaya Real Property Tbk (JRPT).
  2. PT Provident Agro Tbk (Palm).
  3. PT Kalbe Farma Tbk (KLBF)
  4. PT Royal Prima Tbk (PRIM).
  5. PT Medikaloka Hermina Tbk (treatment).
  6. PT Kino Indonesia Tbk (KINO)
  7. PT Nippon Indosari Corpindo Tbk (ROTI)
  8. PT Bank Rakyat Indonesia Tbk (BBRI)
  9. PT Asurasi Multi Artha Guna Tbk (AMAG)
  10. PT Adaro Energy Indonesia Tbk (ADRO)
  11. PT Indocement Tunggal Prakarsa Tbk (INTP).
  12. PT Matahari Tbk Department Store (LPPF)
  13. PT Saratoga Investama Sedaya Tbk (SRTG).
  14. PT Merdeka Copper Gold Tbk (MDKA)
  15. PT Mitra Keluarga Karya Sehat Tbk (MIKA).
  16. PT Cikarang Listrindo Tbk (POWR).
  17. PT Indofood CBP Tbk (ICBP).
  18. PT Indofood Sukses Makmur Tbk (INDF).
  19. PT Bank Mandiri (Persero) Tbk (BMRI)
  20. PT Bank Rakyat Indonesia (Persero) Tbk (BBRI)

Card issuer requirements

in being an issuer, especially from a limited company You must meet the following requirements:

1. Documentation requirements

  1. Submit registration statement to OJK.
  2. Filing an application for listing on the Indonesian Stock Exchange
  3. Company information and supporting or professional institutions
  4. IPO Plan Documents
  5. The results of the examination of the legal advisor
  6. Financial reports that have been audited by a certified public accountant
  7. Report from the property appraiser (actuary) if any
  8. Articles of Association approved by the Minister of Law and Human Rights
  9. prospectus
  10. financial projections

2. Company conditions

  1. Juristic person in the form of a limited company (PT)
  2. Have independent directors at least 30% of the total number of directors.
  3. There must be at least one independent director from the total number of directors.
  4. There is an audit committee.
  5. There is an internal audit team
  6. There is a company secretary.
  7. More than 3 years (main board) and more than 12 months (development board) have been reviewed.
  8. There is an unconditional opinion review in the past 2 years (Main Board) An unconditional opinion review result (Development Board)
  9. Total net tangible assets of more than 100 billion (main board) and 5 billion (development board).
  10. Number of shareholders more than 1,000 divisions (main board) 500 divisions (development board)
  11. For companies wishing to IPO on the main board:
  • At least 300 million shares are not owned by controlling investors and major shareholders, or:
  • Minimum 20% of the total issued shares If the company has a stake of less than Rp 500 billion
  • At least 15% of the total number of outstanding shares If a company has a capital of 500 billion rupiah – 2 trillion rupiah
  • Minimum 10% of the total issued shares if the company has an interest of more than Rp 2 trillion.
  1. For companies wishing to IPO on development boards:
    The minimum number of shares held by non-controlling and major shareholders is 150 million shares and the amount:
  • Minimum 20% of the total issued shares If the company has a stake of less than Rp 500 billion
  • At least 15% of the total number of outstanding shares If a company has a capital of 500 billion rupiah – 2 trillion rupiah
  • Minimum 10% of the total issued shares if the company has an interest of more than Rp 2 trillion.

card issuer process

The process of a closed company becoming a public company or issuing a card is not a short process. Some companies may take more than a year to get listed on the stock exchange. for the Indonesian stock market There are several steps a company goes through to become an issuer in IDX:

1. Preparation process

in the process The company must provide:

  1. Audit team and other positions that are listed above.
  2. Documents required for listing on the stock exchange
  3. Make a budget for an IPO.
  4. Appoint institutions and supporting professions such as external audit teams. Underwriters (insurer) and others.
  5. Conduct a general meeting of shareholders (GMS) to legalize AD and ART.

2. Submit a sharing list application.

At this stage, the Company has submitted an application for the listing of securities to the Indonesian Stock Exchange. Companies must also submit other prerequisite documents to IDX and OJK.

IDX will then review the report and ask the company and its underwriters to present what they will do with the proceeds from the sale of shares. IDX will visit the company directly if necessary.

If this submission process has been approved by IDX, the company must submit a share registration application to OJK and disclose the share prospectus.

OJK may request certain changes to this document. But when this process is finished, the company can do it. book making and public offer As a new IDX issuer

That is the process of becoming an issuer for a closed company. This process differs if the issuing party issues another type of securities, such as a government or a securities company. (to issue mutual funds, ETFs, etc.)

Conclusion

An issuer is a business entity (government) that issues securities for a broad range of trading purposes. These securities are generally issued for the purpose of obtaining additional funds from the public. so that the issuer can carry out the project according to the plan Issuers are different from public companies. Issued by a public limited company But the issuer doesn’t have to be a public company.

That’s a complete explanation of what a card issuer is. What is the function And how can a company be an issuer on the Indonesian Stock Exchange? To buy shares issued by a new public company, visit the page. e-ipo.co.id. good luck.



Source link

Please wait 180 seconds or 3 minutes, the secret code will immediately appear under the countdown

LEAVE A REPLY

Please enter your comment!
Please enter your name here