Indonesian e-commerce player PT Global Digital Niaga Tbk, known as Blibli, is targeting to raise 8.17 trillion rupiah ($523 million) in a domestic initial public offering (IPO) at a valuation of as much as $3.5 billion.
According to the prospectus filed by the company with the Indonesia Stock Exchange (IDX) on Monday, Blibli will sell 17.77 billion shares, or a 15% stake in the company, at 410-460 rupiah apiece to the public.