JAKARTA: PT Bukalapak.com has lost more than half its value since raising US$1.5bil (RM6.29bil) in Indonesia’s biggest initial public offering (IPO).
The shares closed at a record low 352 rupiah (10 sen) on Tuesday, pushing its market value below 37 trillion rupiah (US$2.6bil or RM10.79bil). That’s down 66% from the 109 trillion rupiah (RM31.8bil) market cap recorded on its first trading day in August.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!