IPO fundraisings may remain muted in Indonesia as startups wait out weak market

IPO fundraisings may remain muted in Indonesia as startups wait out weak market

Photo by IDX

Indonesia’s IPO market, which recovered smartly in 2021 from the pandemic-induced lows of the previous year, is facing another lacklustre year in terms of fundraisings.

Unfavourable market conditions — geopolitical tensions, inflation, and rising global interest rates, among other things — have forced many IPO hopefuls in the country to defer their public listings to next year in the hope that beaten startup valuations will recover, analysts and observers told DealStreetAsia.

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