Bukalapak's IPO Targets Rp 21.9 Trillion: How Will the Funds Be Allocated?

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Andrea Lidwina 09/07/2021 15:00 WIB

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Bukalapak.com Tbk plans to sell 25.76 billion shares in its initial public offering (IPO) at a price of Rp 750-850 per share. The company aims to raise up to Rp 21.9 trillion.

Allocation of Funds Obtained from Bukalapak's IPO

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Allocation of Funds Obtained from Bukalapak's IPO

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Bukalapak.com plans to sell 25.76 billion shares in its initial public offering (IPO) at a price of Rp 750-850 per share. Targeting funds of up to Rp 21.9 trillion, Bukalapak's IPO will be the largest in Indonesia.

66% of the total IPO proceeds will be used for the company's working capital. The remainder will be allocated to subsidiaries' working capital. For example, 15% will be allocated to PT Buka Mitra Indonesia and another 15% to PT Buka Usaha Indonesia.

Four other subsidiaries will each receive approximately 1% of the total IPO funds. These are PT Buka Investasi Bersama, PT Buka Pengadaan Indonesia, Bukalapak Pte. Ltd., and PT Five Jack.

Bukalapak will open the initial offering period from July 9-19, 2021. The main IPO period is scheduled for July 28-30, 2021. Listing on the Indonesia Stock Exchange (BEI) is planned for August 6, 2021.

With this IPO, the ownership stake of some existing shareholders will decrease. One example is PT Kreatif Media Karya, whose stake will decrease from 31.9% to 23.93%.

Editor : Dimas Jarot Bayu

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."