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With $3.5 B valuation, Blibli expected to raise $528 M in local IPO

Blibli, an Indonesian e-commerce company, plans to list locally on November 7 and raise 8.2 trillion rupiah (about $528 million USD). After Bukalapak and GoTo Group, it is the third unicorn in Indonesia to list on the Indonesia Stock Exchange (IDX).

A price range of 410 to 460 rupiah (about US$0.027 to US$0.03 per share) has been established by the corporation. Through the IPO, it plans to sell 17.7 billion additional shares or 15% of the company as a whole.

The IPO of Blibli might increase its market value to over US $3.5 billion.

According to a statement from the firm, it would spend around US$355 million of the money it will get from the IPO to settle its bank debt. The remaining sum will be put to use as operating capital.

In comparison to the US $1.5 billion raised by Bukalapak in its offering last year and the US $1 billion raised by GoTo Group earlier this year, Blibli is seeking to raise less money overall through the IPO.

Local conglomerate Djarum Group supports Blibli, which was established in 2010. Ranch Market, a chain of supermarkets, and Tiket.com, an online travel agency, are two of its subsidiaries.

 

 

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