startups

Government pushes startups to go public amid profitability uncertainties, IPO costs – Jakarta Post


The government has urged Indonesian startups to launch initial public offerings (IPOs) as an exit strategy to boost their businesses but a lack of certainty with regard to profitability and the high cost of an IPO mean the companies remain lukewarm about the idea.
The Tourism and Creative Economy Ministry’s nonbanking capital access director, Syaifullah, said in a media briefing on Friday that the government was trying to push startup companies in Indonesia to launch IPOs as an investment option.
“We are encouraging startup companies to launch IPOs, instead of aiming to become unicorns,” he said, adding that the roadmap for startups to going public was clearer than trying to achieve unicorn status (when a company’s value reaches US$1 billion or more).
The Creative Economy Agency (Bekraf), which has now been merged into the ministry, and the Indonesia Stoc…



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