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Bukalapak up 25% after raising $1.5 billion in Indonesia’s biggest IPO

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Reuters

By Fransiska Nangoy, Anshuman Daga and Fanny Potkin JAKARTA (Reuters) – Shares in Indonesia’s first listed tech unicorn, PT Bukalapak.com, surged nearly 25% on their trading debut on Friday as investors scrambled to get a piece of the country’s fourth-largest e-commerce company in a booming sector. The 11-year-old e-commerce company that counts Ant Group and Singapore sovereign fund GIC Pte Ltd among its backers, raised $1.5 billion in the Southeast Asian country’s biggest initial public offering (IPO). Bukalapak shares rose to 1,060 rupiah ($0.0738) after reaching the 25% limit, with tens of …

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