Indonesian e-commerce firm Bukalapak seeks to raise up to $800m in IPO

Logo of Bukalapak, an Indonesian e-commerce firm, is seen outside its headquarters in Jakarta, Indonesia, June 16, 2021. REUTERS/Willy Kurniawan

Indonesian e-commerce firm Bukalapak is keen to raise as much as $800 million in an IPO in August, two people with knowledge of the matter said, the first of two big tech listings in Jakarta this year that will add long-sought lustre to the local bourse.

A mid-year debut could see it become Indonesia’s biggest listing in 10 years and the largest ever for the country by a startup. But those milestones will likely later be overtaken by the planned listing of GoTo – a new company to be formed by the merger of e-commerce rival Tokopedia and ride-hailing and payments firm Gojek.

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