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The buzz for Bukalapak’s IPO is raising all kinds of legal questions

By Nadine Freischlad Jon Russell in BFO #325, 13 Jul, 21

Indonesia is going IPO mad after e-commerce company Bukalapak announced plans to raise US$1.1 billion in what would be a record IPO for the country.

The company has reportedly already secured its sales target based on a day of prospecting. You’d imagine that statement of intent coupled with national pride would be enough, but it looks like Indonesia’s infamous ‘buzzers’ are hyping the event up… and skirting the boundaries of what may be legal.