Bukalapak Reveals Remaining IPO Funds Of IDR 9.95 Trillion

JAKARTA - PT Bukalapak Tbk (BUKA) revealed the plan to use the remaining IPO funds of Rp9.95 trillion out of the total collected funds of Rp21.3 trillion.

Bukalapak Director Victor Putra Lesmana explained, until the end of December 2024, the IPO funds had been realized as much as Rp11.9 trillion and the plan to use IPO funds had been adjusted by the end of 2024 to accommodate market dynamics.

"As of the end of December 2024, we have realized as much as Rp11.9 trillion or about 56 percent of all IPO funds. The remaining Rp9.95 trillion will be used for the development of BUKA's business and children's activities through working capital," Victor said in a public expose on January 16.

Victor added that the remaining IPO funds will be used for working capital, the development of subsidiaries, as well as the purchase of assets and investments.

"We will not rule out the possibility that in the future there can be acquisitions that can be made for investment or development programs. Especially if we see or assess, there is positive potential or good for the future development of the company," he said.

In addition, Victor is optimistic that the use of IPO funds until the end of 2025 will support the company's long-term growth and make a positive contribution to all stakeholders.

"I believe that with this new strategy, it can continue to contribute positively to stakeholders and the digital ecosystem in Indonesia," he explained.

However, Victor also highlighted the challenges facing the industry as a whole, both at the national and global levels, due to existing uncertainties.

BUKA also continues to monitor dynamic political conditions and remains careful in making decisions.

Victor emphasized that one of the responsibilities of BUKA is to ensure that the use of IPO funds that have been entrusted by the public is carried out carefully.

"We are committed to finding existing opportunities, so we can ensure that the company can achieve sustainable growth," he said.