Robinhood to Buy Indonesia Brokers to Join Retail Investing Boom

Robinhood Markets Inc. is set to enter the Indonesian market after signing deals to acquire two local brokerages, underscoring the appeal of the Southeast Asian country’s growing ranks of retail investors.

The US firm entered into agreements to buy Indonesian brokerage PT Buana Capital Sekuritas and licensed digital asset trader PT Pedagang Aset Kripto, according to a statement by Robinhood on Monday. No financial details were disclosed. Shares in Robinhood rose as much as 2.2% in premarket trading on Monday.