Bukalapak ups IPO to $1.5 billion, set to be largest Indonesian issue [Reuters]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
Last sea limited american depositary shares, each representing one class a ordinary share earnings: 3/3 06:30 am
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Source: Reuters
investors for the country's largest local issue, two sources familiar with the matter said on Friday. The app of Indonesian e-commerce company Bukalapak is seen on a mobile phone next to its logo displayed in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration Until a few months ago, Bukalapak, the No.4 e-commerce company and Indonesia's first tech unicorn to launch an IPO, was looking to raise just $300 million. That grew to $800 million and then to $1.13 billion last week as investors clamoured for a piece of the company. The listing comes at a time when the pandemic has boosted demand in Indonesia's $40 billion e-commerce market. Bukalapak, focuses on micro, small and medium-sized enterprises, as it competes with bigger rivals Tokopedia, Sea Ltd's Shopee and Alibaba's Lazada. Bukalapak, which counts Singapore sovereign investor GIC and Microsoft among its backers, has attracted interest from long-only funds, domestic investors and sovereign wealt
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Earnings
- 3/4/24 - Beat