Tokopedia Considering Dual Listing for IPO This Year
PT Tokopedia (Tokopedia) stated that it is processing plans to become a public company. Therefore, his party has appointed Morgan Stanley and Citi as advisors for the initial public offering (IPO) plan. The plan is also inseparable from Tokopedia’s business growth during the COVID-19 pandemic.
“The growth in market adoption has further driven Tokopedia’s business growth during the pandemic. We are considering accelerating our plans to become a public company, and have appointed Morgan Stanley and Citi as our advisers in this regard,” said Tokopedia’s VP of Corporate Communications, Nuraini Razak, when confirmed, Monday (8/2/2021).
He added that his party was considering the market and methods for dual listing or listing of shares on two stock exchanges. It is reported that Tokopedia will conduct an initial public offering (IPO) in the United States and Indonesia. “Dual listing, but certainly the main thing is Indonesia because Tokopedia is an Indonesian company,” he said.
Tokopedia Appoints Former Menparekraf Wishnutama to Become Commissioner
Previously, the e-commerce company, Tokopedia, again appointed Wishnutama as commissioner. The Minister of Tourism and Creative Economy (Menparekraf) for the 2019-2020 period served as a commissioner, before resigning in October 2019.
“The company believes that Tama’s leadership experience and creativity will provide added value, both for the leaders in Tokopedia, the institution as a whole, until the acceleration of the realization of Tokopedia’s great mission for Indonesia,” said Tokopedia founder and CEO, William Tanuwijaya, in his official statement to Friday, February 5, 2021.
Wishnutama welcomed Tokopedia’s mission in digital economic equity in Indonesia. “Especially to empowering local MSMEs which are closely related to the progress of the country’s economy. I’m happy to be able to join Tokopedia and share my experiences to support the company’s goals,” Wishnutama said.
He has nearly 26 years of experience in the creative industry. He is the founder of a private television station. He also received a lot of praise when he became Creative Director of the 2018 Asian Games Opening and Closing Ceremony for his success in presenting spectacular performances.
Tokopedia’s IPO Plan is Considered to Attract Other Digital Companies to Enter the Stock
It is reported that Tokopedia has implemented a strategy to get listed on the stock market in 2021. The Indonesian marketplace giant is said to be eyeing US $ 1 billion, or the equivalent of IDR 14 trillion (exchange rate of Rp. 14,000 / US $) from this year’s initial public offering (IPO). INDEF’s Senior Economist, Aviliani, assessed that the IPO plans for digital companies such as Tokopedia to Gojek are very good. It can also attract other digital companies to do the same.
“In my opinion, if this is an IPO is very good. Because so far the IPO has to be profitable for two years first. Now, while they are in the process, maybe the profits will only take a while later. The floor is on the stock exchange if the regulations are more relaxation like now,” he said as quoted by CNBC Indonesia, Saturday (6/2/2021).
“In the past, the rules were very difficult, it had to be two years (profit) first so that our SMEs also could not do an IPO. But with the current conditions, we want to have an IPO, other digital-digital ones, or e-commerce, can digital companies others, including fintech can do it,” he added.
Furthermore, Aviliani reminded that the digital company could read its future prospects well. Then don’t let the stock price fall after the IPO.
“So, don’t let the stock price fall after the IPO. So you have to be smart to see the prospects because sometimes there are two kinds of investors. There are only short-term investors, those who are trading. Some are investing long term. So you must read the prospectus carefully,” he said.