Large IPOs Seen to Make Comeback in Jakarta After February Polls
- Total proceeds raised jumped 62% to $3.5 billion this year
- Consumer, energy-related names expected to list in 2024
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Mid-to-large sized initial public offerings are poised to resume in Indonesia next year once a new president is elected, which would further boost the Southeast Asian country as a hot listing hub after being one of Asia’s busiest markets in 2023.
More issuers from the retail and consumer sectors are likely to come to market in 2024, supported by a recovery in demand, according to BNI Sekuritas President Director Agung Prabowo. Policies implemented by outgoing President Joko Widodo also set the stage for other companies tied to renewable energy and electric vehicles supply chain to raise funds domestically.