Indonesian e-commerce unicorn Bukalapak may tap local market IPO in Q3 2021

Photo: Bukalapak

Indonesian e-commerce unicorn Bukalapak is eyeing an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) as early as the third quarter of this year, according to people familiar with the matter.

The marketplace is also weighing a US listing via the special purpose acquisition company (SPAC) route, as first reported by Bloomberg. Bukalapak could be valued at $4 billion to $5 billion in a potential SPAC merger, the report added, citing sources.

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