Bukalapak Initial Public Offering Gaze Upon Rp22 Trillion Funds, Note the Schedule

JAKARTA – E-commerce unicorn PT Bukalapak.com Tbk will soon hold an initial public offering (IPO) on the PT Indonesia Stock Exchange (IDX). Bukalapak is eyeing Rp21.9 trillion of funds from the capital market.

Bukalapak in the prospectus released on Friday, July 9, 2021, offers a maximum of 25,765,504,851 shares of common stock on behalf of which are all new shares and issued from the company’s portfolio, with a nominal value of Rp50 per share. The new shares represent a maximum of 25% of the company’s issued and paid-up capital after the IPO.

Bukalapak shares are offered to the public at an offering price ranging from Rp750 to Rp850 per share which must be paid in full at the time of submitting the Share Purchase Order Form (FPPS).

The total value of this Initial Public Offering is a maximum of Rp21.9 trillion.

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Bukalapak’s management appointed PT Mandiri Sekuritas and PT Buana Capital Sekuritas as underwriters. Meanwhile, PT UBS Sekuritas Indonesia and PT Mirae Asset Sekuritas Indonesia acted as the other underwriters.

Bukalapak is scheduled to hold a virtual public expose today, Friday, July 9, 2021.

In a document that was leaked some time ago, it was known that Bukalapak would hold a roadshow starting June 28, 2021. If it is approved and there is no change in schedule, the company led by Rachmat Kaimuddin will be listed on the IDX on July 29, 2021 with the stock code BUKA.

In addition, will also allocate shares for the management and the employees or management and employee stock option plan (MESOP) plan as much as 4.9% of the total offering and paid-in capital.

Bukalapak also carried out a share ownership program by the employees through employee stock allocation (ESA) program of 0.1% of the total shares to be issued in the IPO later.

The Following is IPO Schedule of Bukalapak:

Initial Offer Period: July 9-19 2021
Initial Public Offering Period: July 28-30, 2021
Allotment Date: August 3, 2021
Electronic Share Distribution Date: August 5, 2021
Order Refund Date: August 5, 2021.

Writer: Sukirno