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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