UPDATE 1-Indonesian operator of online mall Blibli sees stock rise as much as 4.9% in debut

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JAKARTA, Nov 8 (Reuters) - Indonesia’s PT Global Digital Niaga Tbk saw its banal emergence arsenic overmuch arsenic 4.9% successful terms connected its Tuesday commercialized debut, aft an archetypal nationalist offering successful which the relation of online promenade Blibli targeted arsenic overmuch arsenic 7.99 trillion rupiah ($509 million).

The steadfast offered arsenic galore arsenic 17.77 cardinal shares oregon 15% of full superior successful the stock merchantability earlier this period astatine 450 rupiah a piece. The banal touched 472 rupiah successful a debut that ran antagonistic to a hammering of exertion stocks worldwide, earlier retreating to 454 rupiah.

The company, backed by of 1 of Indonesia’s biggest conglomerates, Djarum Group, plans to repay slope loans with astir 30% of the stock merchantability proceeds and usage the remainder for moving superior to make its platform.

Global Digital Niaga’s archetypal nationalist offering followed the $1.1 cardinal stock merchantability of Indonesia’s biggest exertion steadfast PT GoTo Gojek Tokopedia Tbk earlier this twelvemonth and $1.5 cardinal merchantability past twelvemonth of rival PT Bukalapak.com Tbk. ($1 = 15,675.0000 rupiah) (Reporting by Stefanno Sulaiman and Ananda Teresia; Editing by Christopher Cushing)

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