Online Shopping Major "Bukalapak" Went Public, Indonesia's Largest Listing
On August 6, Indonesian online shopping major "Bukalapak" was listed on the Indonesia Stock Exchange. The initial public offering raised 1.5 billion dollars (about 165.5 billion yen), making it the largest scale listing in Indonesia. Bukarapack has been attracting attention as one of the rapidly growing Southeast Asian tech companies in recent years, and with this listing, the market capitalization has reached 109 trillion Indonesian rupiahs (about 823 billion yen). The funds raised will be used to strengthen the online shopping business, which is the main business, and will support small and medium-sized enterprises in Indonesia through the dedicated app "Mitra Bukalapak" for partnering with small and medium-sized enterprises.
Sources: Asia Nikkei “Bukalapak becomes Indonesia's 13th most valuable public company" (August 6, 2021)
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