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Indonesia's Bukalapak shrinks loss but share price still subdued

E-commerce startup enjoys strong growth in demand for small retail digitalization

Bukalapak went public in August amid fanfare but its share price has since languished. (Screenshot from Bukalapak app) 

JAKARTA -- Indonesian e-commerce startup Bukalapak trimmed its net loss in the first nine months of this year from the same period in 2020, supported by massive growth in its business of digitalizing small retail businesses in Southeast Asia's largest economy.

But whether the result can entice investors to help the company turn around its dire stock market performance remains to be seen, as shares continue to trade well below their initial public offering price.

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