Merged entity between Gojek and Tokopedia lists on the Indonesia Stock Exchange, raising an estimated $1.1 billion (15.8 trillion rupiah) from its IPO that is pipped as Asia’s third-largest and the fifth-largest worldwide this year.
GoTo Group has made its debut on the Indonesia Stock Exchange, raising an estimated $1.1 billion (15.8 trillion rupiah) from its Initial Public Offering (IPO). The funds will be tapped to drive its expansion into high growth markets such as Singapore and Vietnam, as well as drive customer engagement. The merged entity between Gojek and Tokopedia, GoTo said in a statement Monday that the total amount raised represented a market capitalisation of $28 billion (400.3 trillion rupiah). it also marked the third-largest IPO in Asia and fifth-largest globally this year, said Indonesia e-commerce giant, adding that some 300,000 investors netted shares in the public offering. This was the largest number to participate in an IPO on the Indonesia Stock Exchange. A total of 46.7 billion Series A shares was offered, comprising newly issued and treasure shares, at a price of 338 rupiah.
