Five ‘Lighthouse’ Companies Prepare IPOs, Including Chandra Asri Subsidiary
Main Takeaways
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JAKARTA, investortrust.id – PT Chandra Daya Investasi, a subsidiary of petrochemical giant PT Chandra Asri Pacific Tbk (TPIA), has emerged as a frontrunner among five “lighthouse” companies preparing to go public this year, according to Indonesia’s Financial Services Authority (OJK).
PT Chandra Daya Investasi (CDIA), the subsidiary in question, is aiming to raise as much as Rp 2.37 trillion ($147 million) through its planned initial public offering (IPO).
The “lighthouse” label refers to large-scale companies planning IPOs with shares valued at Rp 3 trillion ($186 million) at the minimum and a free float of at least 15%, making them major players in the domestic market.
From January 1 to May 8, 2025, five companies had already secured effective statements from the OJK for IPOs worth a combined Rp 3.23 trillion ($200 million), according to Inarno Djajadi, Chief Executive for Capital Markets, Derivatives, and Carbon Exchange at OJK.
“OJK is currently reviewing IPO registration filings from 28 other companies,” Inarno said during a media briefing on Monday, June 2, 2025.
Data from the Indonesia Stock Exchange (IDX) as of May 23 shows that 14 companies have completed IPOs so far this year, raising Rp 7.01 trillion ($433 million). An additional 20 are still in the pipeline.
Chandra Asri’s IPO Plan
Chandra Asri, one of Indonesia’s largest petrochemical companies, is moving ahead with its IPO plan for CDIA, as previously reported by Investortrust.id.
In its preliminary prospectus, CDIA plans to issue 12.48 billion shares, representing 10% of its post-IPO capital. The nominal value is set at Rp 100 per share, with an indicative price range between Rp 170 and Rp 190.
If priced at the upper end, the offering could raise as much as Rp 2.37 trillion ($147 million), placing it firmly among Indonesia’s largest IPOs for 2025.
The joint lead underwriters for the offering are PT BCA Sekuritas, PT BNI Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Henan Putihrai Sekuritas, PT OCBC Sekuritas Indonesia, and PT Trimegah Sekuritas Indonesia Tbk.