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Shares in Indonesia’s first listed tech unicorn, Bukalapak, surge at IPO
- Friday | 6th August, 2021
JAKARTA (Reuters) -Shares in Indonesia’s first listed tech unicorn, PT Bukalapak.com, surged 25% on their market debut on Friday as investors scrambled to get a piece of the country’s fourth-largest e-commerce company in a booming sector. The IPO comes as Indonesia’s $40 billion e-commerce market is getting a boost from stay-at-home consumers and a shift by more businesses to sell online in the pandemic. The stellar debut pushed Bukalapak’s market value to $7.5 billion, placing it among Indonesia’s top 15 most valued companies. Bukalapak increased its IPO size in multiple rounds and received roughly $6.5 billion of interest from institutional and retail investors. ($1 = 14,365.0000 rupiah)(Reporting by Fransiska Nangoy, Anshuman Daga and Fanny Potkin; Editing by Ed Davies and Stephen Coates)Related article: Indonesian e-commerce firm Bukalapak targets $1 billion IPO
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