Electric vehicles are fuelling Indonesia's green IPO boom

JAKARTA: Indonesia isn’t exactly a stock trading hotbed. No other Southeast Asian country has a smaller market for equities relative to the size of its economy, according to the International Monetary Fund.

So it came as something of a surprise when Indonesia emerged this year as one of the world’s strongest markets for initial public offerings. In a 20-week span alone, companies raised $2.4 billion from first-time stock sales.