Indonesian startups queue up to launch IPOs to raise funds

In September 2017, Kioson Komersial Indonesia, an e-commerce firm, became the first startup to unleash a trend of tapping the bourses to raise capital. It launched an initial public offering (IPO) in the country, raising $3.3 million in fresh funds. It was followed by digital kiosk startup MCash, which raised $22 million in the month of November.