ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
The Indonesia Stock Exchange in Jakarta in September. In 2020 the amount raised in IPOs on the exchange was lower than in most other regional economies.   © AFP/Jiji
Market Spotlight

Indonesia expects 2021 IPO boost from reforms and COVID rebound

Startups and state-backed companies set to improve listing outlook

ERWIDA MAULIA, Nikkei staff writer | Indonesia

JAKARTA -- An initial public offering on the first trading day of 2021 was almost enough for the Indonesia Stock Exchange to match its most valuable listing during all of 2020 -- giving market investors hope for a strong year in Southeast Asia's largest economy.

FAP Agri, which runs 860 sq. km of oil palm plantations and processing plants, raised 1 trillion rupiah ($72 million) during the IPO on Jan. 4. The company rode soaring palm oil prices last year, buoyed by labor shortages in Malaysia and rising demand for soap and hand sanitizer precursors. It is also upbeat on government plans to expand the country's biodiesel program.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more