06 Aug 2021

PT Bukalapak.com Tbk. (“Bukalapak")’s Initial Public Offering

Partners Tunggul Purusa Utomo and Mohamad Renaldi Zulkarnain from Assegaf Hamzah & Partners acted as the Indonesian legal counsel to PT Bukalapak.com Tbk. (“Bukalapak"), an Indonesian-based technology company on its IDR 21.9 trillion IPO on 6 August 2021. Bukalapak offered 25,765,504,800 shares with an offering price of IDR 850 per share. The shares are also offered to international investors under Rule 144A/Reg. S of the US Securities Act 1933. Bukalapak is the first multi-commerce company to list in the Indonesia Stock Exchange and is also the first homegrown start-up unicorn to go public in Indonesia and Southeast Asia. The IPO is also the biggest in Indonesia’s stock exchange history.