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IPO in the first quarter / 2020 is only Rp2.05 trillion

JAKARTA – The fundraising trend in the capital market through IPO activities is getting smaller and even only collected Rp2.05 trillion in the first quarter / 2020.

Quoted from the Financial Services Authority (OJK) data, Sunday (4/19/2020) early morning, the highest IPO in 2015-2020 was in 2018 with Rp16.43 trillion. The funds were collected from IPOs of 58 companies.

However, when totaled with other fundraising activities, 2017 is the year with the highest securities emissions which touch Rp254.51 trillion. The biggest composition came from corporate bond issuances which reached Rp156.71 trillion. Then, followed by a limited public offering of IDR88.2 trillion and IDR9.6 trillion of IPO.

Meanwhile, in the first quarter of 2020, IPO funds collected from 21 companies amounted to Rp2.05 trillion. Then, followed by a limited public offering worth Rp3.07 trillion and the issuance of corporate debt worth Rp19.85 trillion. In total, securities emissions reached Rp24.97 trillion.

This figure does not even reflect the quarterly average of the lowest emission of securities achieved over the past six years, namely in 2015 with a total emission of Rp116.83 trillion.

Meanwhile, the capital market is still overshadowed by negative sentiment from the Covid-19 pandemic and the economic impact of slowing down to recession.

Previously, Binaartha Sekuritas Analyst M. Nafan Aji Gusta Utama explained that the composite stock price index (CSPI) had another chance to strengthen in trading on Monday (4/20/2020), next week.

According to him, based on the indicator, MACD has formed a golden cross pattern   in the negative area. Meanwhile,  Stochastic  and RSI are in neutral area.

He said based on the Fibonacci ratio  , the   first and second support levels ranged from 4,569.16 to 4,443.63. Meanwhile, the   first and second resistance has a range at 4,747.88 to 4,975.54.

That is, the strengthening that occurred in the previous trade could continue. As is known, at the close of trading on Friday (4/17/2020), the Jakarta Composite Index climbed 3.44 percent to 4,632.82.

“On the other hand, there is an upward bar pattern   that indicates a further strengthening of the JCI movement so that there is a chance to go to the  nearest resistance area  ,” he said.

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