However, there were some ‘homeworks’ that they need to clear up first
Indonesia Stock Exchange Director Tito Sulistio stated that e-commerce platform Bukalapak and online forum Kaskus have met with the institution to discuss the possibility of IPO, according to a report by Kontan.
“The process may only take four to five months as long as they remain committed,” he said.
However, he also stated that there are several challenges in terms of legality and administrative matters, though he did not disclose the details.
Reports about Kaskus’ plan for IPO first surfaced earlier this June when CTO Andrew Darwis spoke to Metro TV about the company’s IPO plan, which will be realised “in the next years.”
Also Read: How rumours of Didi’s “IPO” got bigger, then burst
In February, reports began to surface that Indonesia Stock Exchange and Chamber of Commerce (KADIN) are a special board and an incubator programmes to support Indonesian tech startups to go public. The board will facilitate startups by providing them legal and accounting support that will prepare them for fundraising process, including IPO.
The incubator programmes are planned to be launched in Jakarta and Denpasar.
According to DailySocial‘s analysis, there is a strong likelihood that the ‘challenge’ faced by Bukalapak, Kaskus, and other startups when they are planning to go public is the requirement to open their financial data.
Image Credit: freestocks.org on Unsplash
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