TheJakartaPost
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Indonesia’s capital market is facing mounting headwinds as the number of initial public offerings (IPOs) in 2025 has fallen far short of expectations, with only 22 companies going public by September against the year’s target of 66. The outlook has further deteriorated amid nationwide riots that have triggered massive capital outflows on fears of political instability, while investor confidence took another blow after a recent cabinet reshuffle saw Finance Minister Sri Mulyani—long regarded as a trusted figure with strong international credibility—step down from her post.
Indonesia’s stock market took a heavy blow in late August during nationwide riots and protests. On Aug. 29, the Indonesia Stock Exchange (IDX) Composite index fell to 7,830.49 from 7,952.09 the day before, a 1.53 percent drop.
