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Jakarta Post

RedDoorz sees IPO as option to meet future funding needs

  • Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, October 23, 2019   /  02:36 pm
The Jakarta Post Image
A property managed by Singapore-based budget accommodation platform RedDoorz in Jakarta.(kontan.co.id/File)

Hotel booking and management platform RedDoorz may turn to the capital market as another alternative to raise funds to finance the company’s business expansion in the future. RedDoorz Indonesia country head Mohit Gandas said on Tuesday that the Singapore-based tech-travel startup was focusing on growing its business so that it would be ready to launch its initial public offering (IPO) between 2022 and 2023. However, he did not say where the company planned to list the shares or how many shares the company would sell to the public.  “We can’t share more details right now on the IPO because we’re still focusing on expanding and growing our business in Indonesia and other countries in Southeast Asia,” Gandas said during a press briefing in Jakarta. Following its Series C funding this year, through which it raked in US$70 million, he said, the comp...