Bukalapak responded Tuesday to the Indonesia Stock Exchange (IDX), addressing rumors of a potential acquisition by Temu.

The statement followed a news report published Monday by local media outlet Market Bisnis.com, speculating on the acquisition details.

Bukalapak said it is unaware of any plans concerning the acquisition by Temu, while it also added that any forthcoming information on such matters would be disclosed in compliance with laws and regulations once details emerge.

On Monday, the company’s stock surged significantly due to Temu’s acquisition rumors.

Bukalapak’s management urged shareholders and investors to proceed cautiously and await official announcements before making investment decisions.

Additionally, Bukalapak said no significant events or information remain undisclosed that could affect its sustainability or share prices, suggesting the company’s operations and financial status remain stable despite market speculation.