We raise our target price and earning forecasts on the back of widening take rate and TPV
We expect Bukalapak to be cashflow positive by FY23
Bukalapak has enough ammunition to finance its cash burn for 12 years
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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