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DealStreetAsia

Singapore's GIC acquires additional stake in Bukalapak for $95m

The sovereign wealth fund grabs 11% in Indonesian e-commerce giant

Bulakapak became the first Indonesian unicorn to list on the local stock exchange.   © Reuters
MARS W. MOSQUEDA JR., DealStreetAsia | Indonesia

CEBU, Philippines -- Singapore's sovereign wealth fund GIC has invested as much as 1.4 trillion rupiah ($95 million) in Indonesian e-commerce giant Bukalapak, thereby taking its stake in the company to 11%, according to a regulatory filing.

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