Roehl Niño Bautista · · 1 min readTiket eyes merger with Indonesian ecommerce firm for IPO
Indonesia-based Tiket, a travel booking platform, could merge with local ecommerce firm Blibli before going public, reported Bloomberg, citing sources briefed on the matter.
This comes after the former’s plan to merge with a special purpose acquisition company fell through.
Tiket is now looking to raise up to US$1 billion in its IPO, but its talks with Blibli are reportedly still ongoing. The latter also has its own plans to go public.
The ecommerce platform acquired Tiket in 2017, but the two remained as separate entities following the deal. Both firms are backed by local conglomerate Djarum Group.
Aside from Tiket and Blibli, at least four other Indonesian tech companies are looking to go public in 2022: Traveloka, LinkAja, J&T Express, and Run System. Meanwhile, GoTo Group has just listed with the Indonesia Stock Exchange.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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