GoTo Sets Initial Price Of IDR 338 Per Share, Potentially Raises IDR 15.8 Trillion IPO Funds With A Market Capitalization Of IDR 400.3 Trillion

Photo: Doc. Go to

JAKARTA - PT GoTo Gojek Tokopedia Tbk (GOTO) has received effective approval from the Financial Services Authority (OJK) to carry out an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

GOTO offered 46.7 billion new Series A shares, which is a combination of newly issued shares and treasury shares (for more allotment options). The initial price of GOTO shares is set at IDR 338 per share.

With this, the value of the initial public offering of GOTO shares reached IDR 15.8 trillion (USD 1.1 billion). It also reflects a market capitalization of IDR 400.3 trillion (28 billion US dollars).

After obtaining an effective permit from the OJK, GOTO will start the public offering period on April 1 - 7 2022, and listing on the IDX Main Board with the stock code GOTO is scheduled for April 11, 2022.

Responding to positive interest from investors, GoTo Group CEO Andre Soelistyo said his party would strengthen the Company's balance sheet and create added value for shareholders. Moreover, he said, the Indonesian capital market, which has outperformed other markets around the world, has the resilience and capacity to support listings of this magnitude.

"As a market leader in Indonesia, with an ecosystem that can serve two-thirds of household consumption, we are proud to be able to fly the flag representing Indonesia's technology sector, as we continue to drive our business growth in one of the most promising regions in the world," said Andre in his statement, Thursday, March 31.

Indo Premier Sekuritas President Director Moleonoto The, one of the underwriters of the securities issuance, said, "The positive response of qualified investment managers based in Indonesia and having a long-term investment horizon shows GoTo's strong fundamentals and is a good first step in starting the journey as a public company.

GoTo's ability to achieve a valuation that truly reflects the company's values and advantages, especially in today's macro conditions, demonstrates its business performance and impact on Indonesian society.

"We are proud to be a part of this journey—one of the most significant IPOs in the world so far this year," said Moleonoto.

For information, the GoTo Group is a unique ecosystem that combines on-demand services, e-commerce, and financial technology through the Gojek, Tokopedia, and GoTo Financial platforms.

GoTo has appointed PT Indo Premier Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk as the underwriters or joint lead underwriters for the IPO.