PT Bukalapak.com Tbk will offer a maximum of 25,765,504,851 shares with a nominal value of IDR 50 for the IPO.
PT Bukalapak.com Tbk, a company located in Indonesia, which is engaged in e-commerce, technology, platforms, online and offline has announced an initial public offering (IPO) on Friday, 9 July 2021. The first unicorn to list shares on the Indonesia Stock Exchange (IDX).
The number of shares offered is 25 percent of the company’s issued and paid-up capital after the IPO. The offering price ranges from IDR 750-IDR 850 per share. Thus, the target for IPO funds to be obtained as much as possible from the IPO is IDR 21.90 trillion.
Citing the company’s brief prospectus, the details of the use of IPO funds include, among others, 66 percent for working capital. The rest is for working capital of subsidiaries, which is about 15 percent allocated to PT Buka Mitra Indonesia, about 15 percent to PT Buka Usaha Indonesia, about one percent is allocated to PT Buka Investasi Bersama, about one percent is allocated to PT Buka Pengadaan Indonesia, about percent is allocated to Bukalapak Pte Ltd, and about one percent was allocated to PT Five Jack.
In the implementation of this IPO, PT Bukalapak.com Tbk has appointed the implementing underwriters, including PT Mandiri Sekuritas and PT Buana Capital Sekuritas. Meanwhile, the underwriters include PT UBS Sekuritas Indonesia and PT Mirae Asset Sekuritas Indonesia.
The temporary IPO schedule quoted from the company’s prospectus is:
-Initial offer period: 9-19 July 2021
-Effective date: 26 July 2021
-Period of initial public offering of shares: 28-30 July 2021
-Allotment date: August 3, 2021
-Date Distribution of shares electronically
-Order refund date: August 5, 2021
-Listing date on the Indonesia Stock Exchange (IDX): August 6, 2021
The share purchase order must be made in accordance with the terms and conditions stated in the prospectus and the share purchase order form (FPPS). The FPPS is available on the company’s website http://about.bukalapak.com/id/investor-relations, the website of the underwriter, and the website of the underwriter.
In addition, the company will also allocate a maximum of 0.1 percent of the shares offered in the IPO for the employee stock allocation (ESA) program of a maximum of 25,765,505. The ESA exercise price is the same as the bid price.
In addition, the company will also allocate a maximum of 4.91 percent of the issued and fully paid capital after the IPO for the management and employee stock option plan (MESOP) program.
The amount is a maximum of 5,060,345,153 shares with the MESOP exercise price of at least 90 percent of the average closing price of the company’s shares for a period of 25 consecutive trading days on the regular market.
The prospectus also states that the implementing underwriter who also acts as the underwriter will guarantee the remaining shares offered which are not subscribed in the IPO.
(NFL)
