JAKARTA - Bukalapak is preparing to take the floor on the Indonesia Stock Exchange by conducting an initial public offering (IPO) later this month. One of the country's e-commerce giants will use the ticker code BUKA.
Bukalapak targets to raise funds of up to IDR 21.9 trillion. Bukalapak will issue 25,765,504,851 shares of common stock on behalf of which all are new shares. These shares were issued from the Bukalapak portfolio with a nominal value of IDR 50.
As underwriter, Bukalapak, which is now led by Rachmat Kaimuddin, collaborates with Mandiri Sekuritas and Buana Capital Sekuritas as Joint Lead Managing Underwriters and UBS Sekuritas Indonesia and Mirae Asset Sekuritas Indonesia as Domestic Underwriters.
Director of PT Buana Capital Sekuritas, Ratna Karim Ratna Karim said the startup is also one of the unicorns in Indonesia, will release 25 percent. Of this total, the centralized allotment for retail investors is 2.5 percent or IDR 75 billion.
"Meanwhile, the price of new shares offered in the IPO will be IDR 750-IDR 850 per share. The allotment portion will be adjusted as if we place an order for shares when we use the e-IPO. So gradually adjustments will be made in the event of oversubscription", she said in public Bukalapak expose which was held virtually, Friday, July 9.
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Ratna continued that around 66 percent of the funds raised would be used by PT Bukalapak.com Tbk as working capital.
"The remaining 34 percent will be used as working capital in subsidiaries", she said.
The public offering period for Bukalapak shares will take place on July 28-30 2021. Then, the allotment will be on August 3, 2021.
Then distribution, payments to issuers and refunds will be made on August 5, 2021. Then the shares will be listed on the IDX on August 6, 2021.
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