eCommerce firms have made their trading debuts, or have plans to go public, on markets from Indonesia to Germany, while other players in the online shopping industry are set to be acquired.
In Indonesia, Bukalapak is interested in landing up to $800 million in funding through an initial public offering (IPO) in August, Reuters reported, citing two unnamed sources. The offering could provide the firm with an infusion in the range of $500 million to $800 million, with the ultimate amount varying due to market climate and investor appetite.
One unnamed source said that a private listing prospectus has been sent into the Indonesia stock exchange. Bukalapak claimed in 2019 that it had a valuation of over $2.5 billion.
And in the U.K., Made.com landed an infusion of £100 million (approximately $141 million) by selling 50 million new shares, the Financial Times reported. Meanwhile, current backers, such as Co-founders Ning Li and Brent Hoberman, sold approximately 47 million shares.
“A listing in London, where the business was founded, will enable us to accelerate our growth,” CEO Philippe Chainieux said, per FT. The firm intends to put IPO funds toward marketing and supply chain enhancements.
In Germany, shares of About You surged on the firm’s inaugural trading day in Frankfurt, with the sale of a 21 percent stake bringing in €842 million (or approximately $1 billion) and providing the firm with a €3.92 billion (approximately $4.7 billion) valuation, Bloomberg reported.
“We are very much looking forward to the loosening of [pandemic] restrictions; demand in categories we are strong in is already coming back,” Co-founder Tarek Mueller told the outlet.
About You’s rivals on the retail side include companies such as Zalando SE and Asos Plc. Moreover, it has a Shopify-like online shopping system. About You seeks to serve young women between the ages of 20 and 40, Bloomberg reported.
In South Korea, Naver and Shinsegae Group will reportedly buy eBay’s South Korean operation for approximately $3.6 billion, Reuters reported, citing local media. For its part, South Korea is said to be the fourth biggest eCommerce market globally.