JAKARTA. PT Bukalapak.com Tbk (BUKA) has raised fresh funds of IDR 21.9 trillion from its Initial Public Offering (IPO) in Indonesia Stock Exchange (IDX) after applying IDR 850 per share as the execution price.
Inarno Djajadi, President Director of IDX, confirms that Bukalapak is the first technology unicorn company listed in IDX. Djajadi further reveals that no other companies were able to surpass the proceeds that BUKA gains.
“With the total collected funds of IDR 21,9 billion, Bukalapak’s IPO has become the highest in IPO return in the history of Indonesia Stock Exchange,” Djajadi declares today (6/8).
On the other hand, Rachmat Kaimuddin, President Director of BUKA, believes that this return acquisition signifies the sufficiently high level of trust displayed by the investors towards the micro, small, and medium enterprises empowerment in Indonesia. “Through this IPO, Bukalapak is assured that we could advance micro and SMEs’ growth to the next level,” Kaimuddin adds.
The entire proceeds would be channelled into BUKA and its subsidiaries’ working capital. It includes funding the investment of several products and services and enhancing performance and profitabilities.
More specifically, 66% would be allocated to the company’s working capital. Another 15% would be directed to PT Buka Mitra Indonesia, while PT Buka Usaha Indonesia gets another 15%. Lastly, PT Buka Investasi Bersama, Buka Pengadaan Indonesia, Bukalapak Pte Ltd, and PT Five Jack would be given 1% each. (KR/ZH)