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Achmad Zaky will become a new billionaire thanks to Bukalapak’s IPO

Jakarta

Bukalapak conducted an Initial Public Offering (IPO). One of the largest e-commerce companies in Indonesia will release 25% of its shares to the public or 25,765,504,851 shares of common stock on behalf of which all are new shares.

Quoted from a brief prospectus, Monday (12/7/2021), the shares are offered to the public at a price of Rp 750 to Rp 850 per share. With this, Bukalapak targets to raise funds of up to IDR 21.9 trillion.

This will certainly add to the wealth of the co-founder and former CEO of Bukalapak, Achmad Zaky. Indonesia will be the arrival of a new trillionaire.

Referring to the prospectus data, Zaky currently holds 5.76% of Bukalapak’s shares or the equivalent of 4,452,515,674 shares. After the IPO, the shares will be diluted in percentage terms but the amount will remain the same, namely 4,452,515,674 shares or the percentage will be 4.32%.

Assuming the IPO share price is Rp 750-850/share, the valuation of Zaky’s shares will be Rp 3.34-Rp 3.78 trillion. The valuation will continue to rise if later on August 6, Bukalapak’s stock skyrockets, for example through auto reject of 25% in a day.

Unexpectedly, his wealth will increase thanks to Bukalapak, which he founded in 2010 with his colleagues Nugroho Herucahyono and Fajrin Rasyid. In fact, if it is pulled back, the capital to establish the startup is only Rp. 80 thousand for ordering the website address used by Bukalapak until now.

When he founded Bukalapak, Zaky and his friends had a mission to help stalls that had difficulty adapting to the current internet era. No kidding, its main goal is to help millions of stalls in this country go online.

Zaky then took the position of CEO of Bukalapak until the end of 2019. Now Zaky is no longer ‘managing’ Bukalapak, he and Nugroho founded a venture capital company called Init 6, which is an investment company with a focus on investing in early-stage startups.

Of course, Zaky’s efforts did not succeed immediately. The man who was born in Sragen, an alumni of the Bandung Institute of Technology (ITB) majoring in Informatics Engineering, had also tried his luck in the culinary field, but ended up bankrupt.

After graduating from college, he and his colleagues also founded their first company engaged in technology consulting services called Suitmedia. Zaky held the position of CEO of Suitmedia until 2014.

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(aid / das)

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