Traveloka, the Indonesia-based online travel agency, is finalizing its plans to take the company public.
The company says it is looking at the best way forward and that the Indonesian Stock Exchange remain under consideration because of its “footprint across Southeast Asia and Australia.”
In a statement it says: “The U.S. market, at the same time, is also proving to be more and more interesting. Wall Street regards South East Asia as a flourishing region full of growth potential.
"As the leading regional consumer technology company in SEA, our listing on Wall Street will place us on the same platform as other world-class global tech companies that are also listed there.
"Ultimately, it will also enable us to compete better at a global level and bring in even more resources to Indonesia and Southeast Asia even further than imagined."
Back in October, Henry Hendrawan, president of Traveloka, said during a conference that the company would break even in 2020.
In a Bloomberg interview last month, CEO Ferry Unardi said its core travel business was already profitable and that it was looking forward to further growth.
He also said the company had been looking to do an IPO for a while but had put it off because of the pandemic.
Unardi added that the company and the market are now ready for it and that IPO via a Special Purpose Acquisition Company could be attractive.
Traveloka raised $250 million in July 2020, saying it would use the funds to build “a more robust and integrated travel and lifestyle portfolio in key markets as well as expanding its Financial Services solutions to better support ecosystem partners.”