Djarum-Backed E-Commerce Startup Blibli Is Said to Weigh IPO (2)

PT Global Digital Niaga, an e-commerce platform backed by Indonesian conglomerate Djarum Group, has picked advisers for a potential initial public offering in Jakarta as early as next year, according to people with knowledge of the matter.

The company, also known as Blibli, is working with Credit Suisse Group AG and Morgan Stanley to explore a possible first-time share sale, said the people. Other banks could be added to the lineup, they said, asking not to be named as the process is private.

Deliberations are at an early stage, and the size of the IPO could depend on which ...