Strengthening Indonesia's Capital Market, Bukalapak Invites Other Startups to List Shares on IDX.
PT Bukalapak.com or Bukalapak (BUKA) invites Indonesian startups to follow in its footsteps on the Indonesia Stock Exchange (IDX).
President of Bukalapak, Teddy Oetomo, said that this was intended to increase the contribution of the capital market to Indonesia's gross domestic product (GDP).
"If we look at the ratio of Indonesia's market cap to GDP, it is still lacking compared to other countries. Why? Because many tech companies have not IPOs in Indonesia," he said in a virtual discussion, Thursday (14/10/2021).
Instead of becoming a competitor, as the first startup to debut on the Exchange, Bukalapak invites other startups to also list their shares on the Indonesia Stock Exchange (IDX). Given the number of startups born in the country, Teddy is optimistic that if all startups IPO, they will be able to advance the Indonesian capital market.
“Indonesia has a lot of big tech startups. We want to invite other technology friends, let's take the floor together at IDX. So that IDX, Indonesia's capital market is more advanced,"
Previously, IDX Commissioner Pandu Sjahrir revealed that three startups namely Goto (Gojek-Tokopedia), Si Fast, and Traveloka will soon be listed on the Exchange next year.
"Other technology companies will participate in the IPO on the IDX, Goto in the first semester of 2022, followed by Si Cepat and Traveloka," said Pandu.
According to Mandiri Capital data, Indonesia currently has six unicorn startups with a combined pre-IPO valuation of USD 38.2 billion or around Rp 541.3 trillion (exchange rate of Rp 14,170 per USD).
In addition, there are around 27 companies classified as centaurs, namely startups with a valuation above USD 100 million to USD 1 billion, which also have the potential for IPOs with fundraised values ​​and large market capitalization values.
