Mitra Komunikasi Nusantara-backed Kioson is set to float on the Indonesia Stock Exchange, becoming the first startup in the country to complete an initial public offering.
Kioson, an Indonesia-based online-to-offline e-commerce company backed by electronics and communication technology distributor Mitra Komunikasi Nusantara (MKNT), has filed for a $3.4m initial public offering, Tech in Asia reported today.
The company aims to sell 150 million shares for approximately $0.02 each, with the IPO expected to launch on October 3. The shares represent 23.1% of the company’s total equity.
Kioson operates a network of 19,000 stores across 384 Indonesian cities where users can buy things online and pay through…
