PT Bukalapak.com Tbk. (Bukalapak)’s Initial Public Offering, the biggest in Indonesia’s stock exchange history

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. Partners Tunggul Purusa Utomo and Mohammad Renaldi Zulkarnain led the transaction.