Two of Indonesia’s mostly highly valued unicorns have begun actively preparing to float their shares. But neither will hit a stock exchange until at least late 2019 thanks to a combination of rapid geographical expansion, the current emerging markets malaise, and a thicket of regulations to work through and overcome.
The complexity of floating the first large tech start-ups from an emerging markets jurisdiction like Indonesia was always likely to necessitate long lead times. As a result, capital markets experts say that ride hailing and courier company Go-Jek and online booking agent Traveloka began the groundwork for their IPOs in the first quarter of the...
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