Report Card on Indonesia's Jumbo IPOs: From BUKA, GOTO, AMMN, to ADRO

Bisnis.com, JAKARTA — The Indonesia Stock Exchange was flooded with a wave of jumbo IPOs five years ago, raising tens of trillions of rupiah. Each issuer offered a different narrative to shareholders during the initial public offering (IPO).

Names such as PT Bukalapak.com Tbk. (BUKA), PT Dayamitra Telekomunikasi Tbk. (MTEL), PT GoTo Gojek Tokopedia Tbk. (GOTO), and PT Amman Mineral Internasional Tbk. (AMMN) raised fantastic amounts of funds from public offerings on the Indonesian capital market. In addition to these IPOs, PT Alamtri Resources Indonesia Tbk. (ADRO), formerly known as Adaro, also became one of the companies that raised jumbo funds from the IPO process on the Indonesian capital market.