Indonesian e-commerce platform Blibli will launch its initial public offering (IPO) next month to get 8.17 trillion rupiahs (about 528 million U.S. dollars) to repay bank loans and develop the platform, the company said in its prospectus on Monday.
PT. Global Digital Niaga, Blibli’s operator, backed by one of the wealthiest conglomerates of the Djarum group, will sell its 17.77 billion shares, or 15 per cent of the total capital, for 410-460 rupiah per share on Nov. 1-3.
The company will allocate 5.5 trillion rupiahs (about 356 million dollars) of those funds to repay its bank debt, while the rest will be used for working capital to develop the platform.
This share offering will follow two other unicorn startups from this archipelago country that have listed on the Indonesia Stock Exchange (IDX), GoTo (merger of ride-hailing company Gojek and e-commerce Tokopedia) in April this year and Bukalapak in August last year.
