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Listing

Stock listed in the Indonesia Stock Exchange is classified into 2 listing boards: Main Board and Development Board. The placement of the Issuer and prospective Issuer?s Listing depends on the fulfillment of the initial listing requirements on each Board.

Main Board is intended for listed big companies that have track records, while the Development Board is intended for companies that have not yet fulfill the listing requirements of the Main Board, including prospective companies that have not produce any profits, and companies that are on the state of reorganization.

General Requirement Listing On The Jakarta Stock Exchange
Issuers can list their stocks in Exchange if the have already fulfilled the following requirements:

Registration statement has been stated effective by the Bapepam
The issuer is not in lawsuit that could influence the existence of the company
Its business field is directly or indirectly not prohibited by the prevailing law of Indonesia
Particularly for issuers in manufacturing field, they are not in pollution problem (this is proved by the AMDAL certificate) and for issuers in forestry field must have ecolabelling certificate
Especially for issuer in mining field, it must have a managing license that is still valid at least for 15 years; have at least 1 Mining Authority Contract or Regional Mining License; one director with technical skill and experience in mining field; and have had a proven deposit or equivalent
Especially for business that needs managing license (like highway construction, forestry), it must own the license at least for 15 years.
Subsidiary and/or holding company of a listed company in Jakarta Stock Exchange that contribute 50% of its consolidation income to the listed company cannot be listed in the Exchange
Financially related requirements of the initial listing must base on the last audited annual financial report.

Criteria Of Initial Listing On The Main Board

Prospective issuers will be listed for the first time in the Main Board if they have fulfilled the requirements below:

No	Criteria
1.	Have fulfilled general requirements for stock listing
2.	Until the proposal of listing, the company has been running its operational activities in the same core business for at least 12 months in sequent
3.	Until the proposal of listing, the company has been running its operational activities in the same core business for at least 12 months in sequent
4.	Have net tangible assets of at least Rp 5,000,000,000 (five billions Rupiah).
5.	If issuer experiences operating loss or does not produce any profit yet or operates less than 2 years, it is obligated to: Achieve profit and net income on the end of the second book year based on the financial projection announced in the Exchange. Especially for issuer, whose field of business needs longer time to reach break event point (such as infrastructures, agricultures of hard plants, Forest Managing Right concession or Industry Plan Forestry or others business field related to public services) shoul achieve profit and net income at least at the end of the sixth year since the listing
6.	The amount of shares owned by the minority shareholders after public offering of five days before the listing proposal (for public company which shares have not been listed) is at least 50,000,000 (fifty million) shares or 35% of paid up capital (depends on which one is smaller)
7.	The number of shareholders is at least 500 (five hundred) shareholders, who already have accounts in one of the Exchange Members, with the provisions below: For issuer that performs public offering, the number of its shareholders is the number of shareholders after the initial public offering For issuer that comes from a public company, the number of its shareholders is the last number of shareholders at least 1 month before proposing the listing application For issuer listed in another Bourse, the number of its shareholders is counted based on the average of the last six months
8.	Especially for issuer who is going tohold an IPO, the Underwriter has to use the principle of full commitment