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Aditya Hadi Pratama · · 1 min readDjarum Group-backed Indonesian ecommerce firm Blibli eyes 2022 IPO
“PT Global Digital Niaga, also known as Blibli, has picked advisers for a potential initial public offering in Jakarta as early as next year,” Bloomberg reported, citing people familiar with the matter.
Details:
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The company is working with Credit Suisse Group AG and Morgan Stanley to explore a first-time share sale. Other banks will potentially be added to the lineup.
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Deliberations are still at an early stage, and the size of the IPO could depend on which Blibli businesses are included. A representative from the company declined to comment on the IPO plan but said that the firm is open to options that would expand its ecosystem.
Dive deeper:
- Founded in 2011, Blibli is backed by Indonesian conglomerate Djarum Group. Kusumo Martanto, the ecommerce company’s chief executive, claimed that Blibli secured unicorn status earlier this month.
- If the IPO pushes through, Blibli will be the latest Indonesian unicorn to list on the Indonesian Stock Exchange, coming after Bukalapak’s record-breaking financial debut in the country. (Read: The leading Asian tech players eyeing an IPO in 2021)
Editing by Miguel Cordon and Jaclyn Tiu
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