Heaptalk, Jakarta — PT Global Niaga Tbk, known as Blibli plans to perform Initial Public Offering (IPO) in 1-3 November, 2022. The Djarum Group-backed startup is reported to have embarked on its IPO process today with the issuer code BELI (10/17).
Converting to a public company, Blibli is expected to seize as much as Rp8 trillion or USD528m (USD1 equals Rp15,497) by offering 17.77 billion shares or 15% of the total capital that is placed and deposited by the company. The offering price range will start from Rp410 to Rp460 apiece. From its prospectus, Blibli will allocate most of its fresh funds, specifically, Rp5 trillion, or around USD323 million, to pay the debt.
Prior to this IPO, Blibli carried out a merger with a sophisticated online travel agency (OTA) Tiket.com, and Ranch Market. The merger has formed a new omnichannel entity named Blibli Tiket. The acquisition enables Blibli to amplify its services, in specific for BlibliMart for shopping daily needs and BlibliHome for any house appliance demand, and Ranch Market.
Acquiring Tiket.com also allows Blibli to address people’s needs for traveling, such as buy ticket for transportation, book hotel, etc. Moreover, the startup also launched BliResto, which collaborates with numerous well-known restaurants to enable its users to enjoy various special foods and beverages.
Based on its financial report, Blibli’S earnings in the last quarter have attained Rp6.7 trillion or about USD432 million, and after calculating its liabilities, the startup has recorded a loss of Rp2.5 trillion or USD161 million. Blibli has successfully minimized its total loss of 24% compared to last year, which reached Rp3.3 trillion or USD213 million.
However, the startup’s assets are estimated to slump by 8%, from Rp18.3 trillion (USD 1.18 billion) last year to Rp16.8 trillion (USD 1.08 billion). Blibli’s liabilities also increased, from Rp6.3 trillion or about USD40 million last year to Rp8.7 trillion or USD5.6 million.
