It may not the best of times for a stock market listing, but many analysts expect Indonesia’s BliBli to pull off a successful initial public offering (IPO) next month.
PT Global Digital Niaga Tbk — the entity that owns e-commerce player Blibli, Indonesian online travel agency Tiket.com, and supermarket chain Ranch Market — announced on Monday that it is targeting to raise 8.17 trillion rupiah (nearly $530 million) in a domestic IPO at a valuation of $3.5 billion.