Street Hawkers Pave the Way to Indonesia's First E-Commerce IPO

The first Indonesian e-commerce startup to go public will test investors’ appetite for technology companies that hail from Southeast Asia’s largest economy.

PT Kioson Komersial Indonesia, which connects some 19,000 merchants in 300 cities with consumers, lists October 3 after raising 45 billion rupiah ($3.4 million). While small, its initial public offering provides a gauge of confidence in the archipelago’s burgeoning startup industry, now dominated by private firms backed by the country’s richest families.