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Shares in Indonesia's Bukalapak extend falls, shed over 20per cent since IPO

Shares in Indonesia's Bukalapak extend falls, shed over 20per cent since IPO

Logo of Bukalapak, an Indonesian e-commerce firm, is seen outside their headquarters in Jakarta, Indonesia, August 6, 2021. REUTERS/Ajeng Dinar Ulfiana

(Corrects price in paragraph 1 to 830 rupiah, not 830,000)

Shares in Indonesian e-commerce firm Bukalapak dropped by 6.74per cent on Wednesday to 830 rupiah, with the stock shedding 21per cent since its IPO earlier this month.

Bukalapak, the country's first listed tech unicorn, debuted on Aug. 6 after raising US$1.5 billion in an initial public offering, the biggest IPO in Indonesia.

(Reporting by Fanny Potkin; Editing by Ed Davies)

Source: Reuters

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