Indonesia IPOs Set for Record as Stocks Rally, Bahana Says

Indonesian companies may raise a record $4 billion through initial public offerings this year amid rising domestic consumption and gains in Asia’s best performing stock market, the nation’s top underwriter said.

Slowing inflation and low interest rates are boosting domestic spending, encouraging companies to sell shares to expand, said Eko Yuliantoro, president director of PT Bahana Securities. Bahana helped companies raise $2.2 billion in IPOs and secondary offerings over the past 12 months, the most in Indonesia, according to data compiled by Bloomberg.