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

By Reuters

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

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

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