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Bukalapak shares surge, again hitting upper movement limit

Investor appetite on second day of trading remains strong

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

TOKYO -- Shares in Bukalapak, the first Indonesian unicorn to list on the Indonesia Stock Exchange, soared again in their second day of trading on Monday, as investors hoping to grab a slice of the country's fast-growing e-commerce sector continued to pile in.

Bukalapak shares shot up to 1,325 rupiah per share in the opening minutes of trading in Jakarta, a 25% jump compared with their Friday close of 1,060 rupiah, triggering the IDX's daily upper price movement caps for the second session in a row.

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