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Key metrics suggest Bukalapak is overpriced but the IPO may still be oversubscribed
Logo of Bukalapak, an Indonesian e-commerce firm, is seen outside its headquarters in Jakarta, Indonesia, June 16, 2021. REUTERS/Willy Kurniawan Premium
The IPO of Indonesian marketplace Bukalapak, which opens for subscription on July 28, appears to be overpriced based on various valuation parameters.
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