Blibli seeks to raise $530 million on IDX, but faces bleak share performance
The listing will be the Indonesian bourse’s third largest, after those of Bukalapak and GoTo. But Blibli may not enjoy the same “hype” as its predecessors, given the instability of tech sector share prices, experts opined. Both firms have...
FrankLin
The listing will be the Indonesian bourse’s third largest, after those of Bukalapak and GoTo. But Blibli may not enjoy the same “hype” as its predecessors, given the instability of tech sector share prices, experts opined. Both firms have seen their share prices drop significantly since IPO.
October 25, 2022
Indonesian e-commerce unicorn, Blibli, is planning to raise up to IDR8.17 trillion $530 million through an initial public offering IPO on Indonesia’s Stock Exchange IDX, in what would be the biggest listing on the Southeast Asian bourse since superapp, GoTo’s attention-drawing $1 billion IPO, earlier this year. The deal is also set to follow the $1.5 billion listing of e-commerce unicorn, Bukalapak, in 2021.
But some experts believe the company should remain wary, given the poor performance of both of these stocks following their blockbuster listings.
“Blibli may learn particularly from Bukalapakwhich has lost a staggering 66% of its value since...
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