THE ROLE OF RETAIL INVESTORS IS GETTING STRONGER

JAKARTA - Indonesia Stock Exchange Jointly with the Financial Services Authority is middle to allow investors to socialize.

With that, the investors involved determine the initial public offering (IPO) can reach 20,000 - 30,000 people, from the range of 800-1200 people.

Director of Indonesia Stock Exchange (BEI) Samsul Hidayat explained the new system in determining stock prices is currently under construction.

Later, the exchange will provide a system that will raise investor interest at the price offered from all regions. In other words, he explained, the purchase process can be done gradually.

After the data of the enthusiasts are collected, the data will be processed with an algorithm which then issues the price from the IPO.

According to him, the pricing rationalizes the value and benefits of the Financial Services Authority (OJK) in performing the supervisory function.

"Investors involved will also be more because they do not have to come to the location. In addition, the price is also more rational, because it is tailored to the demand and the price paid by investors, "he explained, Tuesday (15/5).

By applying the price, Samsul guarantees underwriters and emitters, and investors have a reference price to be paid or applied at the IPO.

Currently, the pricing provisions are still in the process of finalizing OJK and can be done this year. "Later the form of OJK rules, we only implement derivative rules," he explained.

Meanwhile, President Director of PT Kresna Sekuritas Ooctavianus Budiyanto considered it necessary to increase investor interest in the capital market. However, there should be anticipation if there is a dispute between the issuer and the underwriter.

"For example, high demand, high cost or compilation of underwriters of different value. This is indeed a dispute, so it should be anticipated. "

Currently, according to him, securities used as underwriters continue to conduct a joint study with OJK to determine the best solution with it.

Although the price is not binding, of course this can affect the dispute. Issuers definitely want a high price. While the underwriter perform calculations quite rationally.

Used for it, he sought and invested to attract retail investors.

Head of Research Narada Kapital Indonesia Kiswoyo Adi Joe requires to activate before entering the pricing system so that issuers and securities can adapt. "Because this is not used, it could make the IPO process fail.