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Blibli weighs Indonesian IPO following rival Bukalapak
Indonesia Stock Exchange (IDX) assessment director I Gede Nyoman Yetna said on Thursday that the local bourse had not received any information directly from the company.
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Blibli couriers prepare to deliver packages in Jakarta. (Courtesy of Blibli)
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nline marketplace Blibli is reportedly in the early stages of planning for an initial public offering (IPO) in Indonesia, just weeks after rival Bukalapak was listed on the Indonesia Stock Exchange (IDX).
PT. Global Digital Niaga, better known as Blibli, is said to be working with investment banks Credit Suisse Group AG and Morgan Stanley on its stock market debut, which is predicted to happen as early as next year, sources told Bloomberg.
“In regards to the Blibli IPO, we have yet to receive information directly from the company,” IDX assessment director I Gede Nyoman Yetna said on Thursday. “We definitely welcome this IPO plan, and we are ready to discuss with the company’s owner, founders and management board.”
Blibli CEO Kusumo Martanto recently claimed that the company had reached unicorn status, meaning it was valued at more than US$1 billion.
The IDX has been trying to accommodate the entry of start-ups into stock market as the exchange seeks to add Rp 553.9 trillion (US$38.3 billion) to its market cap from six unicorn IPOs, excluding Blibli.
Read also: Unleash the unicorns: IDX expects strong market cap growth
Blibli public relations vice president Yolanda Nainggolan said the company could not comment on “rumors and speculations”.
