JAKARTA -- Indonesian companies looking to tap the public market are expected to go slow on their initial public offering plans in the early part of 2024, on account of several factors such as the upcoming presidential elections in the country and the prevailing global macroeconomic uncertainties, the high-interest rate environment and rising geopolitical tensions.
DealStreetAsia
Indonesia may see major listings in 2024, but after election
IPO hopefuls need compelling narrative amid tough economic landscape
In 2023, Indonesia recorded 79 IPOs that raised 54.24 trillion rupiah ( $3.5 billion) compared to 59 listings in 2022 gathering 33.06 trillion in proceeds. © EPA/Jiji
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