Orang Tua Group’s IPO Rumor Sparks Optimism Among Market Analysts
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JAKARTA, Investortrust.id — Rumors of a potential initial public offering by consumer giant Orang Tua Group have resurfaced in the market, stirring optimism among analysts who believe the listing of such a major company could bring fresh momentum to the Indonesia Stock Exchange.
Market analyst and Pasardana Co-Founder Hans Kwee said that the entry of large, fundamentally strong companies would enhance investor confidence in the national capital market. “We really need solid, well-managed companies to list. Companies driven by fundamentals, like Indofood CBP Sukses Makmur,” Hans said when met at the Indonesia Stock Exchange building in Jakarta on Thursday, Nov 6, 2025.
He added that local investors tend to respond emotionally to market movements. “Our investors are happy when they make gains, angry when they don’t, and if stocks tumble, they start shouting,” Hans remarked with a smile.
Hans noted that shares belonging to major business groups still attract significant attention from retail investors. He pointed to conglomerate Prajogo Pangestu’s companies, whose stocks have soared since going public. “Those who bought into the group have all made profits—no losses. Everyone’s happy. That’s how our investors behave,” he added.
When contacted by Investortrust.id, Orang Tua Group’s management did not provide an official comment regarding the IPO speculation.
A day earlier, Indonesia Stock Exchange President Director Iman Rachman signaled that several large conglomerates were preparing to go public in 2026. “Many companies from major groups have already come to us. They are quite optimistic about entering the market next year,” Iman said during the Investortrust Economic Outlook 2026 Seminar in Jakarta on Wednesday, Nov 5, 2025.
He also revealed that three “lighthouse” companies were still in the IPO pipeline for this year. The term “lighthouse” refers to issuers with a minimum market capitalization of Rp 3 trillion and at least 15% free float. “In the pipeline we still have two to three lighthouse IPOs. They include firms from banking, consumer, and mining sectors. These are big groups,” he explained.
President Director of the Indonesia Stock Exchange Iman Rachman, second from right, delivers an explanation during Panel Session I of the Economic Outlook Seminar themed “2026, The Year of Expansion” in Jakarta, Wednesday, Nov 5, 2025. Photo: Investortrust/Mohammad Defrizal.
Meanwhile, Indonesia Stock Exchange Director of Corporate Valuation I Gede Nyoman Yetna previously said that the three prospective issuers were already in the late stages of preparation, though he declined to disclose their names. “We can’t mention names yet, but I’ve already shared the sectors: infrastructure, mining, and one financial company,” Nyoman said at the exchange building on Wednesday, Oct 29, 2025.
He added that all three companies were financially eligible for IPOs this year, although timing would depend on each firm’s readiness. As of Oct 23, 2025, the exchange recorded 13 companies in the IPO pipeline—two small-asset, six medium-asset, and five large-asset firms. In addition, one company was preparing a rights issue and 23 bond issuances were being readied by 18 different issuers.
Founded in 1948, Orang Tua Group began as a herbal wine producer in Medan before moving to Semarang and expanding into a national consumer powerhouse with products spanning food, beverages, and personal care. The conglomerate is currently run by three siblings: Husain, Hamid, and Pudjiono Djojonegoro.