Bukalapak launches US$1.1b IPO, Indonesia's biggest in a decade

Jakarta

INDONESIAN e-commerce firm Bukalapak launched a billon dollar initial public offering (IPO) on Friday, the country's biggest issue in more than a decade, as it taps into soaring investor demand for tech stocks.

Until just a few months ago, Bukalapak was looking to raise just US$300 million. That grew to US$800 million and this week it expanded the offer again, by 25 per cent, as investors clamoured for a piece of the company.