Bukalapak’s IPO Oversubscribed, But Who Are the Buyers?

By Editorial Team 22/07/2021
initial public offering
Summary

Bukalapak's IPO was reportedly oversubscribed during the book-building period, which took place on July 9-19, 2021. A Reuters’ source revealed that demands for Bukalapak's IPO shares reached US$6billion or four times the initial target of US$1.5 billion. The excessive demands mean that the IPO share price will be at the upper limit of the offered price range between Rp 750-Rp 850 per share.

A few months ago, Bukalapak reportedly aimed to raise US$300 million through the IPO and later changed it several times, from US$800 million, US$1 billion, and finally to US$1.5 billion. Bukalapak plans to will release 25.76 billion new shares through the IPO or about 25 percent of the post-IPO issued and fully paid capital.

“Most of the buyers of Bukalapak's IPO are foreign investors and from Singapore. The share allocation for retails is only a small part of the total IPO shares," a D-Insights’ source elaborated.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.