Makes & Partners has advised Indonesia's Global Digital Niaga, the operator of online mall Blibli, on its 8-trillion-rupiah ($510 million) IPO on the IDX, with Skadden, Arps, Slate, Meagher & Flom advising the underwriters.

This is Indonesia’s second-largest IPO in 2022, following the $1.1 billion offering of tech platform GoTo. Blibli will use part of the proceeds to pay back bank loans, with the rest to be used as working capital to develop its platform, Reuters reported.

The Makes team was led by partners Fransisca and Iwan Setiawan, while the Skadden team was led by partners Jonathan Stone in Hong Kong and Rajeev Duggal in Singapore.