Stocks under pressure but the IPO frenzy on IDX refuses to die down


Indonesia has had more IPOs this year than any other country in Southeast Asia, with Malaysia a distant second. And some 24 other companies are planning to list their shares before the end of December.

Indonesian fintech startup PAYFAZZ to raise more than $10m Series A

PAYFAZZ is likely to secure the funding from Insignia Ventures Partners and DST Global, the Yuri Milner-owned investor in internet companies, as smaller investors, and an undisclosed lead investor.

Indonesia’s unicorns eye a bigger splash in fast-growing fintech market

Go-Jek has launched a new payment feature called PayLater that enables customers wanting to purchase laptops, smartphones and other goods to pay in interest-free instalments for up to a certain limit.

Freeport, Rio sell majority stake in Grasberg mine to Indonesia for $3.85b

The sale brings Freeport close to ending more than nine years of often fractious negotiations with Indonesia over ownership rights to Grasberg.

Indonesia’s Venturra Capital launches $15m fund targeting early-stage startups

The fund plans to invest in 30-40 startups over the next four years with check sizes ranging from $200,000 – $500,000.

Zurich Insurance to buy majority stake in Indonesia’s Adira for $414m

Zurich Insurance is acquiring 80% stake in the Indonesian insurer from PT Bank Danamon and a minority investor.

Financial services, overseas expansion and IPO: How Go-Jek is just getting warmed up

Go-Jek co-founder Kevin Aluwi discusses an array of milestones in the Indonesian firm’s journey.

Go-Jek’s VC arm said to have invested in digital TV startup Narasi TV

Go-Ventures was earlier reported to have backed media startup Kumparan.

Fenox to announce 3 Indonesian deals soon, targets up to 3 more by year-end

So far this year, Fenox has made three investments in Indonesia, the latest being its follow-on contribution in the recently announced $24-million Series B funding round raised by point-of-sale app operator Moka.

Amazon to invest $944m to launch cloud computing services in Indonesia

By rolling out a cloud computing business in Southeast Asia’s largest market, Amazon will go head to head with its global rival Alibaba whose cloud computing arm, Alibaba Cloud, launched a data centre in Indonesia in March.