Indonesia's Bukalapak said to increase IPO target to over $1b on strong demand

Indonesia's Bukalapak said to increase IPO target to over $1b on strong demand

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 targeting raising more than $1 billion in its IPO, 25% more than previously planned, on indications of strong investor demand for the country’s first tech unicorn listing, two sources familiar with the matter said.

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