Blibli IPO said to have been twice oversubscribed on Day 1

Blibli IPO said to have been twice oversubscribed on Day 1

Shares of PT Global Digital Niaga Tbk — the entity that owns Indonesian e-commerce player Blibli, online travel agency Tiket.com, and supermarket chain Ranch Market — are said to have been oversubscribed two times by retail investors on Day 1 of its public offering, according to sources familiar with the matter.

The Blibli IPO, which has priced its shares at 450 rupiah apiece, opened on Nov 2 and will end on Nov 4. The oversubscription of retail orders will not change the free float (shares released to the public) of 15%, the sources said.

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