Gojek Receives Blue Bird Shares Worth IDR 410 Billion

Gojek Driver (Irvan Meidianto / VOI)

JAKARTA - A number of shares owned by Blue Bird Tbk were reportedly bought by Gojek. The ride-hailing company also spent 30 million US dollars (US) or around Rp410 billion to buy shares belonging to the taxi company.

Launching from Bloomberg, the purchase was made when Blue Bird's parent company, PT Pusaka Citra Djokosoetono, reportedly sold more than 108 million Blue Bird shares, equivalent to 4.33 percent of the total Blue Bird shares owned by PT Pusaka Citra Djokosoetono, for Rp. 3,800 per share on January 13, 2020. This is also clarified in the Information on the Indonesia Stock Exchange (IDX), on February 14, 2020.

In the IDX disclosure, PT Pusaka Citra Djokosoetono previously held 896,803,795 million Blue Bird shares, or 35.842 percent of the total shares of the company bearing the blue bird logo. After being released to Gojek, the shares owned by PT Pusaka Citra Djokosoetono became 788,596,779 shares, or 31.517 percent of the total shares of Blue Bird.

Along with this agreement confirms previous reports, in which Gojek is indeed trying to develop its business, one of the plans is to buy Blue Bird shares. So there is a big possibility that Gojek will buy Blue Bird shares.

"Gojek and Blue Bird have indeed collaborated for a long time since 2017. This share purchase is expected to strengthen Gojek's business to face fierce competition against Grab," said Bloomberg, Wednesday, February 19.

Quoted from Katadata, Blue Bird company management is still reluctant to comment on the news about the share sale and purchase. "We are unable to comment on rumors circulating in the market," said Gojek Chief of Corporate Chief Affairs Nila Marita.

In fact, Gojek has grown into a large company bearing the title Decacorn in Indonesia. This significant growth was driven by increased consumer demand for integrated services from Gojek.

To date, Gojek has partnered with more than 2 million driver partners, 400 thousand merchant partners and 60 thousand service providers in Southeast Asia. Where Gojek has paved Vietnam, Thailand and Singapore.