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.