Companies with major Indonesia business should get Jakarta listings, says Indonesian President

JAKARTA (July 4): Indonesian President Joko Widodo said on Tuesday he aims to persuade companies that have significant operations in the country but are listed on overseas stock markets to sell shares on Indonesia's bourse.

Widodo claimed he has a list of such firms, mostly operating in mining and plantation sectors, and said he would invite them "one by one" to persuade them, without force, to become a public company in Indonesia.

"Don't let other countries be the one profiting. Why would you plant here but be listed in Singapore, Hong Kong or New York?" he told a room full of traders and company executives while touring the Indonesia Stock Exchange (IDX) in Jakarta.

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