Blibli Officially Took The Floor On The IDX

Photo: Doc, Blibli

JAKARTA - PT Global Digital Niaga Tbk (Blibli) officially listed on the Indonesia Stock Exchange (IDX) with the stock code BELI today, Tuesday 8 November. Blibli offers 100 percent of new shares (primary shares) to domestic investors and qualified international buyers through the distribution of Reg S / 144A. The Company's Initial Public Offering (IPO) has recorded that the Prime Price is close to the upper limit of the offering price range at IDR 450 per share. The number of shares offered in the Blibli IPO has been fully maximized to reach an upper limit of 15.00 percent of the issued and paid-up capital after the Initial Stock Offering, so that it can raise gross IPO funds of around IDR 8 trillion (US $ 513 million). The Initial Public Offering received strong support and interest from various domestic and international investors, consisting of sovereign wealth funds, long-only funds, multi-strategy funds, private wealth management, and others. Investor enthusiasm managed to record an oversubscription rate which reached 4.4 times the Central Detention Center (pooling portion), resulting in an increase in the number of centralized allotment allocations from 2.5 percent to 5.0 percent of the total offering amount. Blibli CEO and Co-Founder, Kusumo Martanto expressed his deepest appreciation to all investors who have participated, both from institutions and retailers for their trust in investing in Blibli. “ Today is the beginning of a new milestone in Blibli's journey. "With the official floor on the IDX, we are getting closer to the vision of becoming a leading and reliable trade and lifestyle omnichannel platform for all customers, both individuals and institutions. We also appreciate all parties who have supported us since the first day of the IPO process, starting from the underwriters and underwriters for the issuance of securities, institutions and professions supporting the capital market, regulators, and our employees," said Kusumo. With a total market capitalization of IDR 53.3 trillion (equivalent to 3.4 billion US dollars), Blibli is the only internet-unicorn in the Asia Pacific Region that has been listed on the capital market since May 2022 and is the second largest internet-unicorn in Asia Pacific to conduct an IPO throughout 20222. This is also the second largest IPO in 2022 and the fifth largest IPO in history in Indonesia. The company managed to complete the IPO in the midst of volatile stock market conditions and widespread selling action in the technology sector. Blibli's President Commissioner, Martin Basuki Hartono, said that this corporate action is a form of Blibli's commitment to continue to contribute to Indonesia's digital economy. "With the trading of BELI shares on the IDX, we hope to increase investor confidence in the technology sector in Indonesia, as well as have a positive effect on the digital economy in the country," said Martin. The net funds for the IPO set obtained by the Company will be used for debt repayment and for working capital. In IPO Blibli, Credit Suisse (Singapore) Limited and Morgan Stanley Asia (Singapore) Pte acted as Joint Global Coordinator (JGC), while PT BCA Sekuritas and PT BRI Danareksa Sekuritas acted as Underwriters (Joint Lead Underwriters/JLU). PT Credit Suisse Sekuritas Indonesia, PT Morgan Stanley Sekuritas Indonesia, and PT DBS