Former by the merger of Indonesia’s two most valuable startups last year, Gojek and Tokopedia, the Goto IPO will be a milestone for Southeast Asia’s biggest internet economy.
It represents the country’s largest digital ecosystem player, with ambitions to expand its regional presence in sectors such as digital banking and e-commerce.
The combined entity is proceeding with its IPO plans despite tumult in global markets, including sharp swings in tech stock valuations from the US to China and Southeast Asia.
The listing of shares on the Indonesia stock exchange’s main board, under the ticker GOTO, is set for April 11.
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The shares offered include newly issued and treasury shares for the purpose of over-allotment, according to the statement. PT Indo Premier Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk are the lead banks on the IPO.
