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Metals-rich Indonesia’s IPO market is so red-hot it’s thrashing Hong Kong and India
One of the hottest IPO markets this year is not in a country brimming with global tech giants, nor does it rank among the top 10 global economies by size. But Indonesia, a collection of islands with a big population and a fast-growing economy, sits on vast deposits of the metals needed to make batteries for electric vehicles. That has made the country an important engine of the global green transition — and a magnet for investors. The Southeast Asian country currently ranks as the world’s fourth-largest market for newly listed companies when measured by the amount of capital raised, according to data from ... (full story)