17
e. A prospectus
of the company, which will
include information
about
the offering.
f.
Any
other
supporting
documents
that
is
needed
as arranged
in
the
fundamental
requirements.
2. Registration – Statement Submitting Step
When
the
preparation
step
has
been completed,
the
issuing
company
will
hand
over all of the
supporting documents to BAPEPAM-LK.
The
issuing
company
has
to wait
until
BAPEPAM-LK
states
that
the
registration
is
effective.
3. Shares Offering Step
When
the statement
has
become
effective,
the
issuing
firm
will
offer
the
stock
for
the
first
time
to the
public
investors.
Investors
can
buy
their
demand
of shares
through
the
appointed
authorized
selling
agents.
The
offering period usually
last for three trading days.
4. Shares Listing Exchange
When
the
shares
have
been
sold,
the
company
is
then
publicly
listed
in
the Indonesian Stock Exchange.
2.1.3
Phenomenon of Underpricing
in IPOs
In
the
process of
gaining
more
liquidity
by
selling the
shares to
a
large number
of
diversified
investors,
it will
come
at
a cost.
One
of
the
drawbacks
and
obligations
a
public
company
must
adhere
to
is
the constant
release
of
information
about
the
company’s
strategies
and
finances
on a regular
basis
to
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