JAKARTA, 8th November 2022 – PT Global Digital Niaga Tbk (the “Company” or “Blibli”, IDX: “BELI”), a pioneer in Indonesian omnichannel commerce and lifestyle ecosystem focusing on digitally connected consumers and institutions across Indonesia, today is officially listed on main trading board of the Indonesia Stock Exchange (IDX) under the ticker “BELI”, offering 100% primary shares to the domestic investor and international qualified institutional buyer with Reg S / 144A distribution.
The Company’s Initial Public Offering (IPO) was successfully priced near the top end of the price range at Rp450 per share. The offer shares in this IPO were maximized to 15.00% of enlarged share capital, raising gross proceeds of ~Rp8 trillion (equivalent to US$513 mn1). The book was well-subscribed with solid interests from domestic and international investors, consisting of sovereign wealth funds, longonly funds, multi-strategy funds, private wealth management, and others. Strong enthusiasm from investors was also reflected in the 4.4x oversubscription of the pooling portion, resulting in an increase of the pooling allotment portion from 2.5% to 5.0% of the total Offering Size.
CEO and Co-Founder Blibli, Kusumo Martanto, conveyed his utmost gratitude to all the investors who have participated and trusted in Blibli’s IPO, both for institutions and retail. “Today marks a new beginning of Blibli’s new milestone. By being officially listed on IDX, we are now much closer to our vision of becoming the commerce ecosystem of choice for consumers and institutions. We also would like to appreciate all the parties who have supported us since day one of this IPO process, including the underwriters, legal counsels, the capital market supporting professionals and institutions, the regulators, and our employees,” said Kusumo. With a total market capitalization of Rp53.3 tn (equivalent to US$3.4 bn)1 today, Blibli is the only internetunicorn IPO in Asia Pacific to be listed since May 20222 and is the second largest IPO of an internetunicorn in Asia Pacific in YTD 20222. It is also the second-largest IPO in YTD 2022 and the fifth-largest IPO ever in Indonesia. The Company successfully executed the IPO amidst volatile equity market conditions and a broad selloff in the technology sector.
President Commissioner Blibli, Martin Basuki Hartono, said that this corporate action is one of Blibli’s commitments to contribute to Indonesia’s digital economy. “By having BELI listed on IDX, we are hopeful of increasing the investors’ trust in Indonesia’s technology sector and will have a positive windfall to Indonesia’s digital economy,” explained Martin. The net proceeds received by the Company through this IPO will be used for repayment of existing indebtedness and working capital purposes. Credit Suisse (Singapore) Limited and Morgan Stanley Asia (Singapore) Pte acted as Joint Global Coordinators (JGC), while PT BCA Sekuritas and PT BRI Danareksa Sekuritas acted as Joint Lead Underwriters (JLU). PT Credit Suisse Sekuritas Indonesia, PT Morgan Stanley Sekuritas Indonesia, and PT DBS Vickers Sekuritas Indonesia acted as the Underwriters along with other syndicates