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Indonesia e-commerce unicorn Bukalapak plans to go public in July

Loss-making startup focused on small shop digitalization plans Jakarta listing

Bukalapak, an e-commerce company whose shares have risen 56% from their IPO price, is the first Indonesian unicorn to go public.   © Reuters

JAKARTA -- Bukalapak, an Indonesian startup valued at over $1 billion, will look to list shares on the country's stock exchange in July, joining fellow unicorns GoTo and Traveloka with its plans to go public.

The e-commerce platform revealed the plans in materials shown to investors in May and recently obtained by Nikkei Asia. Bukalapak said in the presentation that it intends to offer "up to 25% of enlarged capital" but did not reveal details such as how much it hopes to raise from the initial public offering on the Indonesia Stock Exchange or its valuation.

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