The logo of Bukalapak, an Indonesian e-commerce firm, is seen outside its headquarters in Jakarta, Indonesia, June 16, 2021. - Reuters
JAKARTA, Aug 6 (Reuters): Shares of Indonesia's first listed tech unicorn, PT Bukalapak.com, surged by 24.7% at their trading debut on Friday, after the company raised US$1.5 billion in the South-East Asian country's biggest initial public offering (IPO).
Shares in the 11-year-old e-commerce company that counts Ant Group and Singapore sovereign fund GIC Pte Ltd among its backers, were priced at 850 rupiah ($0.0592) in the listing, with gains capped by a limit of 25% at the debut.
The first listing of a multibillion-dollar Southeast Asian tech company in Indonesia has fuelled a frenzy among institutional and retail investors, and is expected to set the benchmark for IPO hopefuls in a region where global investors are chasing fast-growing e-commerce markets.
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