Shares of Indonesian e-commerce firm Bukalapak jumped nearly 25% in their trading debut Friday — from an initial public offering price of 850 rupiah to 1,060 rupiah.
Friday's listing shows how bullish investors are on Southeast Asia, particularly in e-commerce, according to Romaine Jackson, head of Southeast Asia at Dealogic. . The function rejects further increases in share price once the stock hits the upper limit. Stocks priced between 200 rupiah and 5,000 rupiah are allowed to rise as much as 25%.the e-commerce firm raised $1.5 billion in Indonesia's largest IPO, and the company is valued at $6 billion.
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