JakartaGlobe-Mar 15

GoTo Gojek Tokopedia, an Indonesian technology company formed from the merger between ride-hailing giant Gojek Indonesia and e-commerce firm Tokopedia, announced its plan to raise up to $1.26 billion in one of the largest initial public offerings in the Indonesian stock market. In a prospectus published on Tuesday, the company said that it would issue a maximum of 52 billion Series A shares, the equivalent of 4.35 percent of its enlarged capital at Rp 316-346 per share. The plan would net the company Rp 17.99 trillion ($1.26 billion). GoTo will start the book building today until Mar 21. The company targeted targets to obtain an effective statement from the Financial Services Authority (OJK) on Mar 25. The public offering is scheduled for March 29-31 and shares listing on IDX on Apr 4. Should GoTo meet its IPO target, it would be the second-largest initial offering in Indonesia’s stock market in history, just below last year’s Bukalapak IPO. The e-commerce company, founded by Achmad Zaky Achmad Zaky, Nugroho Herucahyono, and Fajrin Rasyid, raised Rp 21.9 trillion from the offering that saw an influx of domestic retail interest in the stock. Read more at:

https://jakartaglobe.id/business/goto-announces-126b-ipo-in-indonesia