Shares in Indonesia’s Bukalapak extend falls, shed over 20% since IPO

Logo of Bukalapak in Jakarta
Logo of Bukalapak, an Indonesian e-commerce firm, is seen outside their headquarters in Jakarta, Indonesia, August 6, 2021. REUTERS/Ajeng Dinar Ulfiana

August 18, 2021

(Corrects price in paragraph 1 to 830 rupiah, not 830,000)

(Reuters) – Shares in Indonesian e-commerce firm Bukalapak dropped by 6.74% on Wednesday to 830 rupiah, with the stock shedding 21% since its IPO earlier this month.

Bukalapak, the country’s first listed tech unicorn, debuted on Aug. 6 after raising $1.5 billion in an initial public offering, the biggest IPO in Indonesia.

(Reporting by Fanny Potkin; Editing by Ed Davies)