[Updated] Key metrics suggest Bukalapak is overpriced but the IPO may still be oversubscribed

[Updated] Key metrics suggest Bukalapak is overpriced but the IPO may still be oversubscribed

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

Editor’s note: The story has been updated to reflect an EV-to-sales value based on Bukalapak’s post-IPO market-cap and upwardly revised 2021 sales forecast amid a second wave of COVID-19. 

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