What's the big news about Bukalapak's recent IPO? On 5 August | TokoToken (TKO) Announcement [Official]

What's the big news about Bukalapak's recent IPO?
On 5 August 2021, Bukalapak which is Indonesia's fourth-largest e-commerce player was listed on the Indonesia Stock Exchange. The USD1.5 billion IPO of Bukalapak which is backed by Microsoft, China's Ant Group and the Singapore sovereign fund GIC was Indonesia's largest ever with shares of the 11-year old e-commerce giant rising by 25% on the first day of trading.

The best is yet to come though as the USD2 billion IPO of Indonesia's ride-hailing, food delivery and e-commerce giant GoTo is in the works.

So, what does all this means for Indonesia's tech market?
As the largest and most populous country in SEA, the success of Bukalapak's IPO coupled with the sheer size of GoTo's upcoming IPO highlights the central role of technology in supporting Indonesia's transformation into a digital archipelago particularly in relation to its supply chain and urban mobility.

Are you waiting for the day of Tokocrypto's IPO?

Till next time, adios Tokonauts.