The Indonesia Stock Exchange (ISX) estimated Wednesday 10 firms would soon sell their shares in initial public offerings (IPO), an ISX executive said.
"At least 10 firms have applied to list their stocks here. But we cannot confirm yet on the timing as they are still required to gain approval from the capital market watchdog," said ISX director Eddy Sugito as quoted by Antara.
He added the firms might also wait for a more conducive investment climate, given the recent turbulence in the global market.
The 10 firms are engaged in several sectors, including construction, retail, mining, trade, distribution and agriculture.
ISX was initially targeting 30 companies to go public this year, and 54 firms to sell bonds worth a total of Rp 30 to Rp 40 trillion.
The exchange is also targeting a total market capitalization of some Rp 2.4 trillion (more than US$240 billion) in 2008.
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