TEMPO.CO, Jakarta - Indonesian e-commerce company Bukalapak has made an official announcement about its plan to go public. The company will hold an IPO offering of 25.7 billion shares or equivalent to 25 percent of its placed and paid-in capital.
"The [potential proceeds] value of this Initial Public Offering is up to Rp21.9 trillion," Bukalapak said in its media prospectus Friday, July 9.
The shares are offered to the public for a price between Rp750 and Rp850 per unit.
The bookbuilding period is from July 9 to 19, while the offering period is from July 28 to 30. The shares will be listed on the Indonesia Stock Exchange (IDX) on August 6.
The company plans to allocate all proceeds for working capital; 66 percent for Bukalapak and the remainder for its subsidiaries.