Bukalapak Reportedly to Go Public in August 2021, Targeting up to 11 Trillion Rupiah Funding

The news of Bukalapak's IPO is getting widely reported. Recently, a Reuters source said the company aims for an ambitious target of fundraising up to $800 million or equivalent to over 11 trillion Rupiah through the sale of 10 to 15% of the total shares; bringing the company's valuation to $4 to $5 billion. The corporate action is said to take place in August 2021.

The source also mentioned that the estimated value obtained from the capital market is in accordance with the prospectus Bukalapak submitted to the Indonesia Stock Exchange. The changes will depend on investor's demand and market conditions after successfully trading on the stock exchange.

The unicorn IPO debut will record a new milestone in Indonesia's business landscape. In addition to being one of the listings with the greatest value over the past decade, it will also be the first among local unicorn startups. In terms of value, GoTo or Traveloka may overtake the position once they decided to register in Indonesia.