The Bukalapak initial public offering (IPO) is the beginning of a list of digital unicorns entering Indonesian Stock Exchange. Retail investors and public fund managers need to be cautious.

Bukalapak is making an initial public offering at the Indonesian Stock Exchange. Bambang Permadi Soemantri Brodjonegoro, Bukalapak’s President Commissioner, explains how the startup—which is still operating at a loss—can become the first startup to go public, with a transaction value that breaks a new record at the stock exchange.

Bukalapak’s finances are improving. The company is not yet making profit but is curbing its losses by lowering marketing cost.

Bukalapak is planning to expand the reach of its partners with funding from its IPO. Competitors are taking the wait-and-see approach.

Bukalapak is breaking new record at the Indonesian Stock Exchange. Speculations on the potential big investors remain.