Shares of PT Global Digital Niaga Tbk — the entity that owns Indonesian e-commerce player Blibli, online travel agency Tiket.com, and supermarket chain Ranch Market — are said to have been oversubscribed two times by retail investors on Day 1 of its public offering, according to sources familiar with the matter.
The Blibli IPO, which has priced its shares at 450 rupiah apiece, opened on Nov 2 and will end on Nov 4. The oversubscription of retail orders will not change the free float (shares released to the public) of 15%, the sources said.