Blibli parent sells 6.6b more shares in IPO, nets $513m

Blibli parent PT Global Digital Niaga has offloaded shares worth US$513 million as it opted to sell more stake in the ecommerce firm’s Indonesia listing, Bloomberg reported.

The Jakarta-based firm upped its quota for sale to 17.8 billion shares at 450 rupiah (US$0.029) each from the 11.2 billion shares at 410 rupiah to 460 rupiah (US$0.026 to US$0.03) apiece. Anticipating a US$3.5 billion valuation, the company will list on the Indonesian Stock Exchange (IDX) on November 7.

Indonesia-headquartered Blibli was founded in 2010. Beyond its product marketplace, it offers ticketing services and groceries. While it is less popular than Bukalapak and Tokopedia, Blibli’s suite of services have helped it log higher revenue than its competitors over the 12 months that ended June 30.

Blibli is the third Indonesian unicorn to go public on the Indonesia Stock Exchange after Bukalapak and GoTo Group.

See also: Is Blibli’s IPO a risk worth taking?

Currency converted from Indonesian rupiah to US dollars: US$1 = 15.562 rupiah