Bukalapak ups IPO to $1.5 billion, set to be largest Indonesian issue Reuters 17 hrs ago By Anshuman Daga SINGAPORE (Reuters) - Indonesian e-commerce firm Bukalapak has increased its IPO size by about a third to $1.5 billion, underscoring hot demand from investors for the country's largest local issue, two sources familiar with the matter said on Friday. Until a few months ago, Bukalapak, the No.4 e-commerce company and Indonesia's first tech unicorn to launch an IPO, was looking to raise just $300 million. That grew to $800 million and then to $1.13 billion last week as investors clamoured for a piece of the company. The listing comes at a time when the pandemic has boosted demand in Indonesia's $40 billion e-commerce market. Bukalapak, focuses on micro, small and medium-sized enterprises, as it competes with bigger rivals Tokopedia, Sea Ltd's Shopee and Alibaba's Lazada.