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Indonesian startup Blibli aims to raise around $500m in imminent IPO

E-commerce company looks to go public in local market over coming weeks

Founded in 2010, Blibli has been an online shopping pioneer in Indonesia. (Screenshot from Blibli website)

JAKARTA -- Indonesian e-commerce company Blibli is understood to have finalized plans for a potential listing in the local market over the coming weeks, according to three sources aware of the development.

Backed by Indonesian conglomerate Djarum Group, Blibli is planning to raise around $500 million in its initial public offering on the Indonesia Stock Exchange (IDX) at a pre-money valuation of over $4 billion, according to a source with direct knowledge of the matter.

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