Investor Lo Kheng Hong Do Not Buy GoTo Shares In IPO, Is It Less Attractive?

Illustrations. (Photo: Doc. Gojek)

JAKARTA - Longtime investor Lo Kheng Hong admits that he is not interested in buying GoTo shares if the company which was the result of the merger of Gojek and Tokopedia takes the floor on the stock exchange with an initial public offering or IPO scheme.

Quoted from the upload of the Instagram account of Lukas Setia Atmaja, @lukas_setiaatmaja, the Prasetya Mulia Business School lecturer and founder of Hungry Stocks talked with Lo Kheng Hong in the video which lasted about 3 minutes 24 seconds.

"What is your response to investment in technology companies, unicorn companies such as Gojek or Toped, which are planning to have an IPO soon? Because the PVB PER may not be attractive, but seeing from the trend it looks like it will become a future platform", asked Lukas to Lo Kheng Hong about the newly formed technology company's IPO plan.

But it turns out that Lo Kheng Hong has a surprising answer. He admitted that he had never bought new shares on the stock exchange or IPO shares for more than 20 years.

"First, I have not bought IPO shares for more than 20 years because it is impossible for company owners and underwriters to want to sell at undervalued, low prices. Surely they want to sell the IPO price as high as possible", said the man who is touted as Warren Buffet Indonesia. that, quoted by VOI, Wednesday, May 19.

During those 20 years, Lo Kheng Hong considered, there was nothing wrong with the price offered at an IPO company. However, he emphasized that the company owners certainly do not want to sell their products at low prices.

Lo Kheng Hong likened the process of selling IPO shares to buying and selling cars. "How would the business owner want to sell Mercy aka Mercedez Benz at the price of the Toyota Avanza? If possible, the Avanza will be sold at Mercy", said Lo Kheng Hong.

In addition, another reason Lho Kheng Hong is not interested in buying shares in technology companies is that he is a little clueless. In fact, he admitted that he still needed his child's help to attend the Zoom Meeting with Lukas and the Hungry Stock community.

Not only that, the senior stock investor said he could not type on a computer until now.

"Maybe you are surprised, Lo Kheng Hong can't even type on the computer? Because I didn't have a computer when I was in college, that's why I don't want to study anymore because I don't have a need", he explained.

For information, after officially announcing the merger, IPO of GoTo, the joint venture between PT Aplikasi Karya Anak Bangsa, aka Gojek, and PT Tokopedia, seems just a matter of time. Observers, capital market analysts, and economists agree with the belief that sooner or later the action to go public will be realized.

However, through a written statement, Monday 17 May, PT Tokopedia's VP of Corporate Communications Nuraini Razak said that at least for now, discussions related to IPO were not yet a priority for the two companies.

"The process of integrating the service base previously owned by Gojek and Tokopedia is the top priority being pursued by GoTo", Nuraini explained.