As part of its decision to sell an additional interest in the e-commerce company’s Indonesian IPO, Blibli parent company PT Global Digital Niaga sold shares for US $513 million, according to Bloomberg.
The Jakarta-based company increased its offering to 17.8 billion shares at 450 rupiah (US $0.029) per share from 11.2 billion shares at 410–460 rupiah (US $0.026–US $0.03) per share. On November 7, the firm will float on the Indonesian Stock Exchange (IDX), with an estimated worth of US $3.5 billion.
Blibli was started in 2010 with its headquarters in Indonesia. It also provides food and ticket services outside of its goods marketplace. Despite having less users than Bukalapak and Tokopedia, Blibli outperformed its rivals in terms of income for the 12 months that ended on June 30 despite being less well-known.
After GoTo Group and Bukalapak, Blibli is the third unicorn in Indonesia to list on the Indonesia Stock Exchange.
