Bukalapak to raise IDR 21tn in Indonesia's biggest IPO yet

© Bukalapak

Although trailing rivals Tokopedia and Shopee in market share, Bukalapak cut its losses last year and will be Indonesia’s first unicorn to go public

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Indonesian e-commerce unicorn Bukalapak has officially announced its plans to raise up to IDR 21.9tn in the Indonesian Stock Exchange (IDX), the biggest share issue in Indonesia’s history. The 11-year old startup will be the first Indonesian tech unicorn to be listed in the exchange.Bukalapak will offer up to 25% of its shares in the public market at a price range of IDR 750–850 per share. Book building will take place from July 9 to 19, and the initial public offering will be from July 28 to 30. The company expects to have its shares listed on the exchange on August 9.The company plans to use...
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Edited by Selva Kumar

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