Bukalapak

The Indonesia Stock Exchange overhauled its rules to entice regional tech companies to float shares in Jakarta.

Analysts believe that tech stocks such as Bukalapak will lure young retail investors and inspire other internet companies to hit the local capital market.

The e-commerce marketplace claims to be the “dominant platform” beyond Indonesia’s metropolises.

Scalpers have raised prices of life-saving supplies like oxygen to up to 1,000% of normal levels to exploit a steep climb in COVID-19 infections in Indonesia.

Mitra Bukalapak, which equips micro-retailers with digitized operations, accounted for 27% of the company’s overall total processing value.

As Indonesia’s tech unicorns race toward their IPOs, state-owned firms are looking to cash in.

Grab reportedly bought a 4% stake in Indonesia’s conglomerate Emtek, which has strategic interests in e-commerce and payments.

Bukalapak has reportedly hired Bank Mandiri’s securities arm to seek a merger with a US-based blank-check company.