GO PUBLIC PROCESS

Companies have a variety of alternative sources of funding, which comes both from within and from outside the company. Alternative funding from within the company, generally by using a profit in the company. While the alternative funding from outside the company can come from creditors as debt, other forms of financing or the issuance of debt letters, and the inclusion of funding in the form of shares (equity). Through the inclusion of funding mechanisms are generally made with the company to sell shares to the public or known to frequently go publik.Untuk go public, companies need to do preparation and preparation of internal documentation in accordance with the requirements to go public or public bidding, and meets all the requirements set Bapepam-LK .
Public Offer or often also called Go Public is a preferred stock or other Securities made by Emiten (the company that will go public) or to sell shares to the public based on the effect of procedure is regulated by the Law on Capital Market Regulation and its implementation.
Public Offer includes the following activities:
 Period when the Prime Market Securities offered by the capitalist guarantor emissions through the Seller Agent appointed
 Shares Penjatahan the effect of the allocation of the capitalist order in accordance with the number of Securities that are available;
 Pencatatan Effects in Bursa, which is when the effect began to be traded on the Stock Exchange.
Public Bidding Process stocks can be grouped into the following 4 stages:
1. Preparation Phase
This stage is an early stage in order to prepare all things related to the Public Offer. At the beginning of the company that will issue shares first to the General Meeting of Shareholders (AGM) to request approval of the shareholders in the Public Offer shares. After approval, the appointment of a guarantor to emiten emissions and supporting institutions, and professional markets, namely:
 Emission Guarantee (underwriter). It is the most involvement in helping emiten issuing shares in order. Activities conducted guarantor emissions are: to prepare various documents, help prepare the prospectus, and pledge to give up publishing.
 Public Accountant (Independent Auditors). Duty to audit or review financial reports on the candidates emiten.
 assessors to conduct assessments of the company's fixed assets and determine the fair value of fixed assets;
 Legal Consultant to the terms of the law (legal opinion).
 Notary of teaching license to make a change of teaching license-Budget Basis, of teaching license agreements in order to offer the public and also notulen-meeting notes.
2. Phase Pengajuan Registration Statement
At this stage, complete with documents supporting his candidate registration emiten to Bapepam-LK to Bapepam-LK declare Registration Statement becomes effective.
3. Stage Offer Shares
This stage is the main stage, because at the time this is emiten offer shares to public investors. Investors can buy shares through agents appointed by the seller. Offer Period at least three working days. Please note that not all investors desire fulfilled in this phase. For example, the stock market to be of as much as 100 million shares while investors want to buy the whole amount of 150 million shares. If the investor does not get a share of the market, the investor can buy in the secondary market after the shares listed in the Stock Exchange.
4. Phase Pencatatan shares in the Stock Exchange
Once completed the sale of shares in the market, more shares are listed on the Indonesia Stock Exchange.
BURSA Pencatatan EFFECTS IN INDONESIA
Shareholders who are recorded in Bei is divided into two board recording the Main Board and Development Board in which the placement of candidates emiten and emiten approved pencatatannya in base eligibility on the initial recording of each registration board.
Main board is for the candidate or emiten have emiten the size (size) and have a great track record is good. While the Development Board is intended for companies that can not meet the requirements of the recording in the Main Board, including the company's prospective, but not a profit, and is a means for companies that are expected in Penyehatan so that national economic recovery can be done more quickly.
General recording requirements in Bei
Emiten Candidates can record sahamnya in Bursa, has been eligible if the following:
1. Emission Registration Statement has been declared effective by Bapepam-LK.
2. Emiten candidates are not in dispute is estimated that the law can affect corporate performance.
3. Businesses either directly or indirectly is not prohibited by laws which apply in Indonesia.
4. Emiten manufacturer specific candidates, not the problem of pollution in the environment (it is proved with a certificate AMDAL) and the forestry industry emiten candidate must have a certificate ecolabelling (environmentally friendly).
5. Special emiten prospective mining areas must have a permit that is valid for at least 15 years have at least 1 Contract Works or power mining or mining license area; at least one Member Direksinya have the technical ability and experience in the field of mining; emiten candidates already have proven reserves (proven deposit) or equivalent.
6. Special emiten candidates who require a permit area of business management (such as toll roads, control of forest) must have a permit is at least 15 years.
7. Emiten candidate who is a subsidiary and / or the parent company of emiten that have been recorded (listing) in Bei emiten which candidates to contribute to the income emiten the listing is more than 50% of consolidated revenue, not recorded in the Exchange.
1. Terms of records relating to the initial financial terms are based on financial reports Auditan last recording before applying.
Terms Pencatatan Start the Main Board
The prospective company will be for the first time in the Main Board if the following requirements:
No Criterion
1. Compliant with general record stock
2. Diajukannya up to the recording application, has conducted operational activities in the main business (core business) the same minimum of 36 months, respectively.
3. Financial Report has been audited 3 last year, with the provisions of Financial Reporting Auditan 2 last year and interim financial report Auditan last (if any) gain in Wajar Without Exception (WTP).
4. Based on the Financial Reports have Auditan last tangible Net Assets (Net tangible assets) at least Rp 100,000,000,000, - (one hundred billion rupiah)
5. Number of shares owned by shareholders that is not Control Shareholders (minority shareholders) after the Public Offer or a company that has been recorded on the Stock Exchange or another for the Public Perusahaa not recorded on the Stock Exchange in the period of five (5) days before the exchange request recording, at least 100,000,000 (hundred million) shares or 35% of the paid capital (whichever is smaller).
6. Number of shareholders at least 1,000 (one thousand) shareholders who have accounts on the effect of Member Stock Exchange, with the provision of: - The Company For candidates who do public bidding, the number of shareholders are shareholders of the bidding public.
- The Company For Candidates came from a public company, the number of shareholders is the number of shareholders not later than the last one (1) month before applying recording.
- For Candidates The Company recorded in other Stock Exchange, the number of shareholders is calculated based on average per month for 6 (six) months.
Terms Pencatatan in the Board Development
The prospective company will be for the first time in development when the Board meets the following requirements:

No Criterion
1. Compliant with general record stock
2. Diajukannya up to the recording application, has conducted operational activities in the main business (core business) the same minimum of 12 months, respectively.
3. Financial Reports Auditan last year that include a minimum of 12 months and the Interim Financial Report Auditan last (if any) gain in Wajar Without Exception (WTP).
4. Have a substantial Net Assets (net tangible assets) at least Rp 5,000,000,000, - (five billion rupiah)
5. If the prospective loss experience emiten or not a business or keuantungan operate less than 2 years old, must: - not later than the end of the year to-2 have been recorded since the business and gain profit net profit berasarkan financial projections that will be announced on the Stock Exchange.
- Special emiten for candidates engaged in a field that is in accordance with the business takes a long time to reach break-even point (such as infrastructure, plantation of trees, forest management concession rights (HPH) or the Industrial Plantation Forest (HTI) or other areas of business related to public services, the financial projections based on the prospective company recorded page no later than the end of the year to-6 have been recorded since the business and gain profit net profit.
6. Number of shares owned by shareholders that is not Control Shareholders (minority shareholders) after the Public Offer or a company that has been recorded on the Stock Exchange or another for the Public Perusahaa not recorded on the Stock Exchange in the period of five (5) days before the exchange request recording, at least 50,000,000 (forty million limka) shares or 35% of the paid capital (whichever is smaller).
7. Number of shareholders at least 500 (five hundred) shareholders who have accounts on the effect of Member Stock Exchange, with the provision of: - The Company For candidates who do public bidding, the number of shareholders are shareholders of the bidding public.
- The Company For Candidates came from a public company, the number of shareholders is the number of shareholders not later than the last one (1) month before applying recording.
- For Candidates The Company recorded in other Stock Exchange, the number of shareholders is calculated based on average per month for 6 (six) months.
8. Special emiten candidates who want to IPO, emisinya pledge agreement must use the principles of capability (full commitment).

Mechanism TRADE
Before you can conduct a transaction, the investor must first become a client at the company's Securities broker or office. Bei located in about 120 companies that are members of Securities Bei. First-time investors to open the accounts with an account of the document. In the account opening documents is a complete identity of the client (including the investment goals and financial circumstances) and a description of the investment will be made.
Customer or the investor can buy or sell order after investors agreed to be the company customers in effect concerned. Effect of each company generally require customers to deposit for a certain amount of money as a guarantee that the customer is eligible to sell shares to buy. The amount of deposit required varies, for example, require that there is Rp 25 million, while others require as much as Rp 15 million and beyond.
Basically there is no limit and a minimum amount of funds to buy shares. In stock trading, the number of shares sold in the sale of the trading is done is a lot. Stock Exchange in Indonesia, a lot means that the 500 shares and that the minimum purchase of shares. Then the funds needed to be varied because of the diversity of stock prices recorded in the Exchange. For example, XYZ stock price of Rp 1,000,
the minimum funds required to purchase a lot to be stock (500 multiplied Rp 1,000) of Rp 500,000. As an illustration, if ABC stock price Rp 2,500 per sahamnya the funds to buy shares at least the means (500 multiplied Rp 2,500) to Rp 1.250.000, -.
In Bei, a transaction is done on a certain day-to-day called the Day of Bursa,
namely:
Stock Day Trading Session Time
Monday until Thursday Session I
Jam Session II 09.30 - 12.00 WIB
Hours 13:30 - 16:00 WIB
Friday Session I
Jam Session II 09.30 - 11:30 WIB
Hours 14.00 - 16.00 WIB
View from the process, the sequence of trading stock or other effect can be explained as follows:

1. Customer becomes the Securities Company.

In this section, a person who will be the first investor to be a customer or open an account in one of the broker or the Company Securities. After officially becoming a customer is registered, the investor can melakuka transaction activity.

2. Orders from customers.

Share sale and purchase activity begins with the instruction that was delivered to the investor broker. At this stage, commands or orders can be made directly where investors come to the office of broker or order delivered through means of communication such as telephone or other means of communication.

3. Forwarded to the Floor Trader.

Each order of entry to the next broker will be forwarded to the broker, which is located on the floor or the exchange is often called the floor trader.

4. Order to enter JATS

Floor traders will enter (entry) of all orders it receives into a computer system JATS. Exchanges on the floor, there are hundreds of JATS terminal facilities which the order-entry of customer orders. All incoming orders to JATS system can be monitored either by floor traders, officials in the office broker and investor. In this stage, there is communication between the broker to the investor so that the goal can be fulfilled orders delivered to the investor to buy or sell. Including at this stage, based on the investors, floor trader order to do some changes, such as changes in the price quote, and a few other changes.

5. There was a transaction (matched).

At this order is entered to the system JATS meet with the appropriate price and JATS recorded in the system as a transaction that has occurred (done), in the sense of an order to buy or sell price has been met with a match. At this stage, the floor trader or broker in the office staff will provide information to investors that the order has been delivered fulfilled.

6. Settlement of transactions (settlement)

End-stage cycle of a transaction or transactions is often called the settlement. Investors do not automatically get their rights because at this stage as the process needed some clearing, pemindahbukuan, and others to end the rights of investors met, as investors sell stocks that will earn money, while investors who purchase shares will receive shares. In Bei, process transactions in progress for 3 days exchanges. This means that if the transaction day (T), then our rights will be fulfilled during the next 3 day exchange, or known by the term T + 3