Bukalapak, Salim Group to pick up stake in Indonesian lender Allo Bank

Bukalapak, Salim Group to pick up stake in Indonesian lender Allo Bank

Photo: Bukalapak

Indonesian e-commerce platform Bukalapak and local conglomerate Salim Group plan to become shareholders of PT Allo Bank Indonesia Tbk through the proposed purchase of the latter’s pre-emptive rights.

Allo Bank said in a recent regulatory filing that its controlling shareholder, PT Mega Corpora, will transfer about 2.5 million shares, or an 11.49% stake, to Bukalapak, and 1.3 million shares (6%) to PT Indolife Investama Perkasa, an entity under Salim Group.

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