JAKARTA. PT Bukalapak.com Tbk (BUKA) has set the price for the initial public offering (IPO) to IDR 850 per share, the exact price upper limit as stated in the public expose earlier this month.
According to the official statement sent by the Indonesia Central Securities Depository (KSEI), BUKA has listed 25.77 billion units of shares on KSEI’s collective deposit. Each unit has a face value of IDR 50.
Using the execution price mentioned above, BUKA would then potentially gain fresh funds up to IDR 22.9 trillion. Ratna Karim, Director of PT Buana Capital Sekuritas, the Joint Lead Managing Underwriter for the IPO, explains that most of the proceeds would be allocated to the working capital. Meanwhile, the remaining portion would be spent on developing six subsidiaries of Bukalapak.
Rachmat Kaimuddin, President Director of Bukalapak.com, claims that this IPO would promote growth in all business lines. However, the company’s EBITDA was still at a minus IDR 1.67 trillion in 2020.
As an additional record, the public offering would start July 27 and end on July 30, 2021. The electronic distribution of the shares would follow on August 5, 2021, while the recording would take place the next day, August 6, 2021. (KR/ZH)