The Ant Group, Aucfan, Emtek, Gree, Microsoft and Naver-backed digital marketplace owner’s shares on IDX jumped 25% on the first day of trading.
Indonesia-based, corporate-backed e-commerce platform operator Bukalapak has gone public, with shares closing at Rp 1,060 ($0.0738).
The price represents a 25% increase from an initial public offering price of Rp 850 ($0.059). Indonesia Stock Exchange (IDX) halted trading through its mechanism that prevents shares from rising more than 25% per day.
Bukalapak’s market capitalisation stands at $7.6bn. It had aimed to raise $1.5bn at a $6bn valuation when it unveiled plans on July 21.
Founded in 2010, Bukalapak provides…
