On August 6, 2021, Indonesian e-commerce unicorn Bukalapak became the first tech unicorn of its generation to make a debut on the Indonesia Stock Exchange (IDX) after raising $1.52 billion in its IPO in the bourse’s biggest offering since Adaro Energy’s issue in 2008.
The IDX is now keen on attracting more such listings, given the growing interest in the country’s tech sector.
Pandu Sjahrir, IDX’s commissioner, who is also the managing partner at Indies Capital, spoke of the stock exchange’s plans to attract more IPO-hopefuls in a fireside chat titled How Indonesia’s IDX is getting ready to host mega tech listings at the Asia PE-Vc Summit 2021 on Oct. 1.
In December, Indonesia’s Financial Services Authority (OJK) released a regulation that allows dual-class share structure. The move will likely attract homegrown tech companies to debut on the local stock market.
At the summit, Sjahrir also shared the exchange’s views on surging retail investor participation, attracting more institutional investors and rules pertaining to special purpose acquisition companies (SPACs).
Watch the full video of his chat with Deepshikha Monga, editor, DealStreetAsia.