Bukalapak Clarifies the Value of Startup Acquisitions Not IDR 14 Trillion, but IDR 14 Billion

JAKARTA, KOMPAS.com – PT Bukalapak.com Tbk clarified that the acquisition value of the startup PT Learning Grow Sharing was not 1 billion US dollars or Rp 14 trillion (assuming an exchange rate of Rp 14,000 per US dollar), but only 1 million US dollars or Rp 14 billion.

The acquisition of PT Learning to Grow Sharing was carried out by Bukalapak’s subsidiaries, namely PT Kolaborasi Kreasi Investa (KKI) and PT Bina Unggul Kencana (BUK) on November 4, 2021.

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“With this, we intend to provide clarification, the sale and purchase of shares made by the selling shareholders of PT Learning Grow Sharing, PT Kolaborasi Kreasi Investa (KKI) and PT Bina Unggul Kencana (BUK) which occurred on November 4, 2021,” said Corporate Secretary Bukalapak Perdana A Saputro in the disclosure of information on the IDX, quoted by Kompas.com Thursday (24/3/2022).

“Regarding the purchase of 100 percent of the shares of PT Learning to Grow Sharing, as many as 11,340 shares are worth 1 million US dollars, not 1 billion US dollars,” he continued.

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Furthermore, Bukalapak informed the sale and purchase value of the shares listed in the Addendum to the Conditional Share Sale and Purchase Agreement.

The document was signed by the selling shareholders of PT Learning to Grow Sharing, PT Learning to Grow Sharing, KKI and BUK on January 11, 2022.

“This information will be published further in the Q4 2021 Financial Report,” he added.

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In the disclosure of information on the IDX, it is written that there is no impact on the company’s operational activities or business continuity.

For information, PT Learning to Grow Sharing (BTB) runs a business in the field of private education, social activities in work social institutions, private tutoring and counseling education.

In addition, PT Learning Grows Sharing also has trading application development activities via the internet, computer programming activities, web portals and/or digital platforms for commercial purposes, business consulting activities and business brokerage and advertising.

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