Poor Performance, No Investors, Contribute to Akseleran’s IPO Delay

By Editorial Team 01/08/2023
IPO business process
Summary

PT Akseleration Usaha Indonesia (Akseleran Group) decided to postpone the initial public offering (IPO) plan from Aug 9, 2023, to 2024. Akseleran co-founder Ivan Nikolas Tambunan said the absence of strategic investors has prompted the postponement.

"Due to the current market conditions, it will take a longer time to find the right, strategic investors," he said on Monday.

Ivan then explained that institutional investors, especially in the technology sector, tend to wait and see. To streamline its operations, Akseleran also downsized by laying off 60 employees in all divisions.

"This is the company's first internal restructuring since it first started operating in 2017," he added.

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