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HomeInternationalIndonesia e-commerce group Blibli plans up to $528mn IPO next month 

Indonesia e-commerce group Blibli plans up to $528mn IPO next month 

Indonesian e-commerce group Blibli, backed by one of the country’s giant conglomerates Djarum Group, plans to launch an initial public offering next month to raise as much as 8.17 trillion rupiah ($528.29 million), the company said.

In a share sale offering scheduled for Nov.1-3, Blibli’s operator, PT Global Digital Niaga, stated in a prospectus that it planned to sell up to 17.77 billion shares, or 15% of the company’s entire capital, at a price range of 410 to 460 rupiah each.

The listing plan comes after the $1.1 billion IPO of GoTo Group, the largest tech company in Indonesia, and the $1.5 billion IPO of competitor BukaLapak.

Blibli will use the rest as working capital to expand its platform, with 5.5 trillion rupiah going toward repaying bank loans.

#Blibli #ecommerce #Indonesia #IPO #shares #DjarumGroup #funds #GoToGroup #BukaLapak #IndiaNews #Keralanews #Kerala #BusinessReviewLive #BRL #Keralabusiness

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BRL Editor
BRL Editor
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.