GOTO Shares Closed At IDR 382 Level On Initial Listing Day, President Director Andre Soelistyo: As Long As We Can Innovate, The Stock Price Will Continue To Grow By Itself

Photo: Doc. GoTo

JAKARTA - The share price of PT GoTo Gojek Tokopedia Tbk (GOTO) closed at IDR 382 or rose 13.02 percent on its first day of listing on the Indonesia Stock Exchange (IDX). GoTo Group CEO Andre Soelistyo stated that his party had prepared various strategies to provide added value for its shareholders.

Andre hopes that GOTO's share price will continue to increase in the future. Regarding GOTO's share price, according to him, it is the result of the execution and performance of the company, as well as external conditions such as the macro-economy of other countries that can also affect the price of a stock.

However, with the strong position of this decacorn-scale technology startup, it makes him confident that his innovation and business strategy in the future will be able to make its share price continue to increase.

"We believe GoTo is very unique, our ecosystem is very synergistic and as a customer, we will get many benefits that we provide through technology and innovation and these products. For this reason, as long as we can innovate and execute, the stock price will develop by itself," Andre said at a press conference after GoTo's listing on the IDX, Monday, April 11.

Andre also hopes that after this listing, there will be many more technology companies that will enliven the capital market in Indonesia.

"We believe that the GoTo IPO as a technology company will not be the first. With the regulatory changes made by the OJK and the IDX, this could be another incentive for similar companies to enliven the Indonesian capital market," he said.

As is known, GoTo Gojek Tokopedia was officially listed on the Indonesia Stock Exchange (IDX) on Monday, April 11. GOTO's share price had shot up to a position of IDR 416 compared to the initial IPO price, which was set at IDR 338 per share.

This listing of GOTO shares also makes GOTO the 15th company listed on the IDX throughout 2022. From the entire IPO process, GoTo raised a total of IDR 15.8 trillion, consisting of IDR 13.7 trillion from the public offering of shares through the IPO, and IDR 2.1 trillion through the sale of treasury shares in the context of the greenshoe option. The fundraising reflects GOTO's market capitalization of IDR 400.3 trillion.