Indonesia’s Bank Allo to onboard Bukalapak, Salim Group and Grab as shareholders

Photo by Ahsanjaya from Pexels

Some of Southeast Asia’s leading tech companies are going to pick up a stake in Indonesia’s Bank Allo via a rights issue later this month, possibly propelling the lender to the top ranks of the country’s digital banking ecosystem.

As DealStreetAsia reported early on Tuesday, Indonesian e-commerce marketplace Bukalapak, consumer conglomerates Salim Group and CT Corp, ride-hailing giant Grab, and used car marketplace Carro will subscribe to the bank’s 4.8 trillion rupiah ($335 million) rights issue.

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