GoTo Officially Listed on the IDX, Records the Third Largest IPO in Asia in 2022
GoTo (PT GoTo Gojek Tokopedia) officially listed shares on the main board of the IDX (Indonesian Stock Exchange) with the stock code GOTO. From the entire IPO process, GoTo managed to raise a total of Rp 15.8 trillion.
The fund consists of raising funds of IDR 13.7 trillion through a public offering of shares in the IPO, then IDR 2.1 trillion of funds from the sale of treasury shares in the context of the greenshoe option. This fundraising reflects a market capitalization of Rp 400.3 trillion.
Based on the amount of funds raised, GoTo’s IPO is claimed to be the third-largest IPO in Asia and the fifth in the world for 2022. This IPO also succeeded in attracting the participation of around 300,000 investors in the public offering process.
“Through this historic moment, we will increase our ability to achieve our mission, while better serving all parties in our ecosystem,” said GoTo Group CEO Andre Soelistyo in an official statement received on Monday (11/4/2022).
The Ceremony Held at the IDX Building
The registration ceremony and the handover of the listing certificate were held at the IDX Building. The event was attended by the Coordinating Minister for Economic Affairs Airlangga Hartarto, Chairman of the OJK Board of Commissioners Wimboh Santoso, and IDX President Director Inarno Djajadi.
The listing of GoTo is also a historic moment for the company and the IDX, because the first share listing was carried out based on the provisions for shares with multiple voting rights that had been set by OJK in December 2021.
In this IPO, the company offered a total of 46.7 billion Series A shares which were a combination of newly issued shares and treasury shares. The offering price is Rp 338, which reflects a market capitalization of Rp 400.3 trillion.
GoTo also conducts the Mutual Cooperation Share Program, which allocates shares with a value of around IDR 310 billion for driver-partners.
In addition, the company also established the GoTo Future Fund, an endowment fund to support initiatives and solutions that provide benefits to stakeholders in the GoTo ecosystem.
Through this program, driver-partners in Indonesia will receive shares for free, after the lock-up period ends. In addition, through the Company’s Long-Term Incentive Plan, after the end of the lock-up period, GoTo’s permanent employees also have the opportunity to become shareholders of the Company.
GoTo Becomes the First Decacorn Listed on the ASEAN Exchange
For information, PT Goto Gojek Tokopedia Tbk (GOTO) officially listed its shares on the Indonesia Stock Exchange (IDX). The Director of Corporate Valuation of the IDX, I Gede Nyoman Yetna said, the listing of GoTo shares was highly anticipated by investors.
This is because the listing of GOTO shares is an important milestone for the company and for the journey of the Indonesian capital market industry.
Through the process of going public, GOTO has become a company created by the nation’s children with the largest ecosystem in Indonesia and is able to raise funds of IDR 13.7 trillion and has a market capitalization of Rp. 400 trillion.
“This makes GOTO a technology company with a decacprn valuation level, and is the first decacorn to be successfully listed on the ASEAN Exchange,” said Nyoman at the Virtual Ceremony of GOTO’s Initial Share Listing on the IDX, Monday (11/4/2022).
In addition, GOTO is also the first digital startup listed on the main board of the Indonesia Stock Exchange. With the support of OJK and the government, GOTO is also the first listed company to implement a capital structure with multiple voting rights or multiple voting shares.
“This gives the founders greater voting power compared to the voting power of ordinary shareholders. So that the company’s policies are following the mission and vision of the founders,” added Nyoman.
GoTo Gojek Tokopedia’s IPO is expected to be an opening for other startup companies to be able to conduct IPOs and list their securities on the Indonesia Stock Exchange. So that it can support the company’s growth and the development of the country’s capital market.