BLIBLI: THE GIANT ECOMMERCE DANCING ON THE STOCK FLOOR

Blibli is one of the leading e-commerce businesses in Indonesia. On 8 November 2022 Blibli conducted an initial public offering or IPO in the Jakarta Stock Exchange. With a total market capitalization of IDR 53.3 trillion, Blibli is the second largest Internet-unicorn in Asia Pacific to go IPO in 2022 and the fifth largest IPO in history in Indonesia. On the first day of trading, the price of Blibli did not move; it was stagnant at a price of IDR 450 per share. The company used the proceeds to repay their debts and expand the business, as it acquired tiket.com and collaborated with Ranch Market. From its prospectus, the proceeds were used to develop new products, cover operational expenses, improve the supporting technology facilities, and do other business actions needed.

The interesting question is how will Blibli do after the IPO? Will its share price roar or slump like the first movers, Bukalapak and Goto?