Robinhood rises after announcing entry into Indonesian market through acquisitions
Robinhood Markets is entering the Indonesian market by way of acquiring a brokerage and digital financial asset trader in the Southeast Asian country.
On Sunday, the company announced that it reached agreements to purchase PT Buana Capital Sekuritas and PT Pedagang Aset Kripto, with management expecting the acquisition to close in the first half of next year.
(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)
Indonesia boasted 19.1 million individual investors as of October, per data from the Indonesia Central Securities Depository, up from less than 4 million at the end of 2020. Over half of these investors are below 30 years old, and another quarter are 40 or younger.
Patrick Chan, head of Asia at Robinhood, told reporters that the company plans to roll out a local app for stock and crypto trading by early 2027.
Shares of the brokerage platform are on the rise this morning, which may be in part due to this new access to Indonesian retail traders, as well as renewed interest in two of the more speculative themes — smaller AI energy plays and quantum computing — enjoyed by its US retail investors.
