Blibli banks on Indonesia resilience as upcoming IPO launches in tough market

Blibli banks on Indonesia resilience as upcoming IPO launches in tough market

Blibli's public expose on Tuesday (18/10/2022).

It may not the best of times for a stock market listing, but many analysts expect Indonesia’s BliBli to pull off a successful initial public offering (IPO) next month.

PT Global Digital Niaga Tbk — the entity that owns e-commerce player Blibli, Indonesian online travel agency Tiket.com, and supermarket chain Ranch Market — announced on Monday that it is targeting to raise 8.17 trillion rupiah (nearly $530 million) in a domestic IPO at a valuation of $3.5 billion.

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