GOTO's Share Price Soars To Reach IDR 390, This Driver Who Owns 4.000 Sheets Can Save IDR 208.000 In A Day

GoTo President Director Andre Soelistyo. (Photo: Doc. GOTO)

JAKARTA - PT GoTo Gojek Tokopedia Tbk (GOTO) officially listed its shares on the Indonesia Stock Exchange (IDX) today, Monday, April 11.

In its first trading, as monitored at 09.50, GOTO's shares shot 15.38 percent to a price of IDR 390. Even GOTO's share price had redeemed IDR 416 per share at the beginning of its trading.

During the initial public offering (IPO), GOTO was recorded to have released 40.61 billion shares to the public. GOTO set the IPO price at IDR 338 per share from an initial range of IDR 316 per share - IDR 346 per share. Thus, GOTO succeeded in obtaining fresh funds of IDR 13.72 trillion.

In terms of price and value, the funds obtained by GOTO are still lower than PT Bukalapak.com Tbk (BUKA). Through last year's IPO, BUKA received IDR 21.9 trillion in fresh funds at an IPO price of IDR 850.

During the public offering period, the total number of shares ordered by investors reached 55.54 billion. Thus, GOTO's IPO experienced an oversubscribed alias of 14.92 billion shares.

GOTO's offering price is IDR 338 per share with 1.18 trillion shares listed, so its market capitalization is IDR 400.31 trillion.

GOTO's capitalization value of IDR 400.31 trillion makes this technology company the issuer with the fourth largest market capitalization on the IDX, right behind PT Telkom Indonesia Tbk (TLKM).

In this celebration, one of the Gojek drivers, Mulyono, received 4.000 shares, or a value of IDR 1.352.000. If you calculate the increase in GOTO's shares at 09.50 at IDR 390 (15.38 percent), Mulyono was able to earn IDR 208.000.

However, Mulyono does not appear to be immediately selling his GOTO shares. He admitted that he would use the GOTO shares as an investment for the future.