Indonesian IPOs surge ahead, defying virus slump

Indonesian IPOs surge ahead, defying virus slump

An electronic ticker board displays stock prices inside the Indonesia Stock Exchange (IDX) in Jakarta, Indonesia, on Thursday, Dec. 17, 2015. Photographer: Dimas Ardian/Bloomberg

As the coronavirus pandemic prompted international investors to flee Indonesia, sending the stock market to an eight-year low, the directors of Aesler Group International, an architecture practice, held their nerve.