Indonesia-based digital banking and finance platform Akulaku, part of China’s Alibaba Group, is looking to enhance its stake in Bank Neo Commerce to around 40% or more from its current holding of 25.2%, founder and CEO William Li told DealStreetAsia in an interview.
This comes as Akulaku itself is raising funds ahead of a planned initial public offering, and looking to consolidate its wealth management and insurance businesses before a separate spin-off on the Indonesia Stock Exchange, Li said.
