E-Commerce Giant from Indonesia Experiences Surge in Stock Prizes

According to the latest reports, Bukalapak has reportedly experienced a surge in its stock prices. The company has reportedly made an entry into the stock exchange market on Friday, August 6, 2021. According to reports, the company has experienced a 25% increase in terms of its share prices since it debuted on the stock exchange market.

Bukalapak is an e-commerce giant that is based in Indonesia. On Friday, the company launched its initial public offering (IPO), and at the time of the IPO listing, it set the price of its stock at 850 rupiahs per share. At the time of writing, the 850 rupiah price equals $0.059.

Following the launch of the initial public offering, the share prices of Bukalapak have surged from 850 rupiahs per share to 1,060 rupiahs per share.

The reports confirm that the initial public offering launched by Bukalapak was highly anticipated. The data shows Bukalapak underestimated the volume of investors for the initial public offering. The number of investors in the IPO turned out to be much higher than e-commerce had predicted in the first place.

As a result of a high number of investors piling into the IPO, the auto-rejection mechanism ended up getting initiated. This resulted in rejecting the investment requests of many investors who wanted to invest in the IPO.

Furthermore, the teams at Bukalapak had set an upper limit after which any further increase in the share price would also be rejected. Surprisingly, the upper limit auto-rejection mechanism also kicked in and started rejecting the higher price of shares for the company.

According to the stock exchange regulations and policies, there is a pre-designated upper limit after which, any further increases are rejected automatically. The shares priced at a range between 200 rupiahs and 5,000 rupiahs can grow up to 25% as per the upper limit.

One of the most surprising things about the share prices for Bukalapak is that they are extremely stable. The reports show that ever since the share prices for the e-commerce platform hit 1,060 rupiah figures, they have not experienced a drop in the price.

According to the details from Indonesia, the initial public offering initiated by Bukalapak is the largest IPO ever recorded in the history of Indonesia. From the particular IPO, the company has managed to raise $1.5 billion. Following the successful initial public offering, Bukalapak’s market valuation has hit the $6 billion figure.

The stock report suggests that at present, Southeast Asian investors are mainly bullish about investing in the Indonesian stock markets. Among the rest of the Indonesian companies, Bukalapak is currently the most bullish as investors are rushing to the platform to invest and make profits.

Since the beginning of 2021, investors in the Southeast Asian markets have been investing heavily in tech companies. This is one of the major reasons why Bukalapak has experienced a surge in terms of its stock and demand.