Jakarta. The Indonesia Stock Exchange (IDX) has set an ambitious target to have 1,000 listed companies by the end of 2024. Currently, the number of listed companies stands at 903. 

"Our immediate target is to reach 1,000 listed companies," IDX Director of Trading and Member Regulation, Irvan Susandy, said on Tuesday.

Throughout 2023, Indonesia's capital market welcomed 79 new listed companies, raising a total of Rp 54.14 trillion ($ 3.5 billion). The IDX has received applications from eight companies set to launch their initial public offerings (IPOs) in January.

Irvan said that increasing the number of listed companies is expected to boost fundraising activities. As of Dec. 28, 2023, funds raised in Indonesia's capital market amounted to Rp 247.06 trillion, representing a decrease compared to 2022, which saw Rp 267.73 trillion raised.

"In line with the government's guidance, we also hope for increased participation from micro, small, and medium enterprises in the stock market," he said.

Additionally, the IDX aims to achieve an average daily transaction value of Rp 12.25 trillion, up from Rp 10.75 trillion last year.

The composite share price index of the IDX posted a robust growth of 6.1 percent, reaching 7,272 in 2023. The market cap reached Rp 11,762 trillion, marking a 23.82 percent year-to-date increase compared to the end of 2022 at Rp 9,499 trillion. The total number of investors reached 12.15 million, reflecting a 17.16 percent year-to-date increase from the end of 2022. 

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