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Indonesia's Bukalapak launches up to $1.5 bn IPO

E-commerce unicorn's listing could be local stock exchange's biggest ever

E-commerce company Bukalapak is a spearhead in Indonesia's digitalization drive. (Photo by Yuki Kohara)

JAKARTA -- Bukalapak, one of Indonesia's leading e-commerce platforms, has kicked off a $1.5 billion initial public offering that could value the company as high as $6 billion.

The startup on Friday announced it plans to offer new shares representing 25% of the post-IPO company at a price range of 750 rupiah (5 cents) to 850 rupiah (almost 6 cents).

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