Learning Investment - Go Public or often called the Public
Offering is offering activities undertaken by the company to the public
(public). By offering shares to the public, then the company will be listed on
the stock exchange becomes a public company / open.
There are several processes that
must be passed by the company to go public, among others:
1.
Preparation
This stage is the initial stage in
order to prepare everything related to the process of going public. At the
earliest stage, companies need to conduct the General Meeting of Shareholders
(AGM) for approval of the shareholders in order to go public. After the
approval, the company subsequently appoint underwriters and other agencies to
help the process of going public.
• Underwriter (Lead Underwriter). Is
the most involvement in helping the company in order to issue shares.
Activities undertaken underwriters include: preparing various documents, helped
prepare the prospectus, and to guarantee the issuance of shares of the company.
• Public Accountant (Independent
Auditor). Assigned to conduct an audit or examination of the company's
financial statements.
• Assessors to assess the company's
fixed assets and determining the fair value of fixed assets.
• Legal Counsel to give a legal
opinion (legal opinion).
• Notary to make the deeds of
amendment, deed of agreements in the framework of the public offering and the
minutes-meeting minutes.
2.
Stage Filing of Registration Statement
At this stage, companies submit an
application to the relevant institutions (the Financial Services Authority or
FSA)
3.
Stage Stock Quotes
This stage is the main stage,
because at this time the issuer offered shares to the public (public offering
or IPO in the primary market). Investors can buy shares through agents
designated sellers. Keep in mind also that not all desires are met investors in
buying shares of companies that will go public. For example, shares released to
the primary market of 100 million shares while investors who want to buy the
entire amount to 500 million shares. Then there are oversubscribed
(oversubscribed). To be fair it is usually done allotment (allotment).
4.
Phase Recording Stock Exchange
After the completion of the sale of
shares in the primary market, then these shares were listed on the Indonesia
Stock Exchange. Investors who did not get on the primary market, can be
purchased on the secondary market in the Indonesia Stock Exchange.
