The technological start in Indonesia leaves US Spac’s plans to go to their region

Indonesian blockbuster series in Bukalapak has urged some of the country’s first expatriates to abandon foreign donation plans and move to the area, marking a pay day for foreign donors.

Indonesia’s global financial system has grown, with groups including Facebook, Microsoft, Tencent, Alibaba, Google and KKR and Warburg Pincus financial institutions stacking at your starting point.

The largest economy in Southeast Asia, Indonesia has the largest crop in the region, or a stand-alone, worth more than $ 1bn.

Until Bukalapak List $ 1.5bn in August, however, no one was listed on the stock market, an important part of setting up a global investment strategy.

Now, some Indonesian technical groups think that the Indonesian Stock Exchange (IDX) is a reliable way to offer international contributions. MNC Group Company, founded by a billionaire Hary Tanoesoedibjo, has lost the system to record his video commercials in the US through a merger with an unannounced car this month.

“When you get an exit like that [Bukalapak], is funded by future investments, “says William Bao Bean, a global SOSV co-operative partner. [but] we should [also] see the amount of money coming in from the market from foreign investors. ”

IDX has sought to attract more technical names even to the enactment of laws to suit the sector, such as the two categories that would give startups and existing ones control over their companies.

Bukalapak, Microsoft’s online marketplace, Chinese fintech company Jack Ma fintech Ant Group and Singapore’s GIC management agency, he raises Its IPO ranged from $ 300m to $ 1.5bn, making it the largest market in the country.

This first appearance boosted the hopes of other technical companies that should be expanded to Indonesia. GoTo, the “best program” that offers ecommerce, horseback riding, shipping and delivery services, is preparing two lists in Indonesia and the US that are priced at more than $ 40bn.

GoTo sponsors include Tencent, Google, SoftBank, Alibaba, Visa and Warburg Pincus.

Raghav Maliah, vice-chairman of the international financial bank at Goldman Sachs, said Indonesia had a “large market that could respond” and was at the forefront of global investors’ demand.

Barrett Comiskey, head of Migo, is an initiative that allows consumers to do just that download movies and television screens on their phones through machines installed in retail stores, so the maritime lists created “much wisdom” after the Bukalapak IPO.

“Our blue brokers always encourage us to go to a market where money makes sense,” he said. Migo advertisers are combining Singapore-based company funds in Temasek with YouTube co-founder Steve Chen.

MNC Group this month terminated a joint venture between its Asia Vision Network company, which operates the local Vision + software platform, with Nasdaq-based company with a view to acquiring Malacca Straits Acquisition Company. MNC cited the “growing interest of IDX investors” in digital companies.

Willson Cuaca, the founder of Indonesia’s largest company in East Ventures, says many of his companies are considering a share in the country.

“It’s almost worthless; there are not many development companies listed in Indonesia, ”he said.

However, Indonesia still has a way to capture the US or other markets when it comes to introducing technology.

IDX ranks 23rd globally in the market for companies listed at about $ 500bn, followed by Singapore and Thailand in the region, according to World Bank data. Sales are also driven primarily by trade, which makes regional prices difficult.

“There is no longer a shortage of brokerage firms that provide stability, although this could change if we find successful IPOs,” said Hwee Ang, founder of financial analysts group Anagram Advisors.

Political threat is another problem, he said. “There is always the question of the longevity of the state in Southeast Asian countries, and how the policy could change.”

And although Bukalapak rose sharply in its stock market, its stock has returned to its IPO price.

Last month Kredivo’s parent, an Indonesian program “buy now, pay later”, agreed to go public with a $ 2.5bn merger with Nasdaq’s Spac.

Although Kredivo is not ready to go to the US IPO, founder Akshay Garg said: [the] US. ”