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On June 16, 2021, the logo of Bukalapak, an Indonesian e-commerce company, is displayed outside its offices in Jakarta, Indonesia. Willy Kurniawan/Willy Kurniawan/Willy Kurniawan/Willy Kurniawan/Willy Kur Reuters, SINGAPORE, July 9 – According to a term sheet obtained by Reuters, Indonesia’s Bukalapak announced an IPO for up to $1.13 billion ahead of its planned debut next month, marking the country’s biggest IPO in almost a decade amid surging investor enthusiasm for digital equities in a region with a burgeoning consumer class. The e-commerce startup, which is backed by Singapore sovereign investor GIC and Microsoft (MSFT.O), is expected to be valued at $5.6 billion at the top end of a pricing range, more than doubling its previous valuation. The IPO’s details are currently being revealed at an investor briefing. According to Reuters, Bukalapak, the country’s fourth largest e-commerce firm, is aiming to raise more than $1 billion in its initial public offering, which is 25% more than previously expected. L3N2OJ1ES Anshuman Daga contributed reporting, and Ed Davies edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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