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Bukalapak, first unicorn to list on IDX, gains 25% on day one
Bukalapak, after making history as the first unicorn start-up to list on the Indonesian bourse, did not disappoint on its first trading day.
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Bukalapak president director Rachmat Kaimuddin (left) and Bukalapak president commissioner Bambang Brodjonegoro (right) hold a certificate from Indonesia Stock Exchange (IDX) stipulating that the e-commerce company has been listed on the local bourse on Aug. 6, 2021. (Courtesy of Bukalapak/-)
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-commerce firm Bukalapak got off to a blazing start of trading on Friday as the first unicorn to go public in Indonesia, following the biggest initial public offering (IPO) the country has ever seen.
The company, which is listed under the ticker symbol BUKA on Indonesia Stock Exchange (IDX), saw its stock rise 24.71 percent to Rp 1,060 (74 US cents) apiece during the first hour of trading, from its IPO price of Rp 850.
IDX president director Inarno Djajadi said Bukalapak’s IPO had attracted 96,000 investors.
“This listing has made history, because Bukalapak is the first unicorn to list on IDX and in the Southeast Asian stock markets,” he said on Friday. “We hope that Bukalapak can become an inspiration for unicorns, centaurs and other tech companies and make IDX their house of growth.”
Bukalapak is the 28th company listed on IDX this year and the 740th overall.
“Even though Bukalapak’s IPO was carried out in the middle of the COVID-19 pandemic, interest in Bukalapak’s shares remains high. This reflects trust in Bukalapak. Through this IPO, we believe, we can push the growth of small and medium enterprises to the next level,” Bukalapak president director Rachmat Kaimuddin said in a press statement on Friday.
