Extended Until March 24, This Is The Reason GoTo Adds Bookbuilding Period

Reporter: Akhmad Suryahadi | Editor: Anna Suci Perwitasari

KONTAN.CO.ID – JAKARTA. PT GoTo Gojek Tokopedia Tbk or GoTo decided to extend the time period for the initial offering of shares (bookbuilding period) for three days. The initial bidding process which was originally scheduled to take place on 15-21 March 2022 has been extended to Thursday (24/3).

This is so that more consumers and merchants on the Gojek, Tokopedia, and GoTo Financial platforms can participate in the Mutual Cooperation Shares Program.

Corporate Secretary GoTo Koesoemohadiani said, initial public offering or GoTo’s IPO received a positive response and high enthusiasm from the community, especially from consumers and traders (merchants and sellers) in the ecosystem who received definite allocations through the Mutual Cooperation Shares Program.

This extension of time is expected to provide them with a longer period of time, considering that this Mutual Cooperation Shares Program is the first time in the Indonesian capital market.

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“So it takes time for the community, especially consumers and traders in the GoTo ecosystem, to be able to better understand the stock order mechanism, consider investment decisions properly, and be able to complete the entire process of submitting initial interest,” explained Koesomohadiani in an official statement received by Kontan.co. id, Monday (21/3).

The high interest of potential investors is reflected in the first six days of the initial offering period, especially those who take part through the Mutual Cooperation Shares Program. This can be seen from the investment invitation page which has been read up to 11 million times on the Gojek, Tokopedia and GoBiz applications.

In addition, the structure of the GoTo IPO plan designed to attract the confidence of potential investors, such as the More Allotment Option scheme in the context of price stabilization (greenshoe) as well as the implementation of shares with multiple voting rights (SHSM) which can ensure the maintenance of the company’s long-term vision and mission, helping to encourage potential investors’ interest in GoTo shares.

“This IPO is the initial stage of the next growth phase for GoTo, and we hope to grow together with investors to drive progress for the entire GoTo ecosystem and the digital economy sector and capital market in Indonesia,” concluded Koesomohadiani.

Along with the high interest of potential investors, GoTo invites potential investors who meet the requirements to participate in the Mutual Cooperation Shares Program, whose notifications are available on the Gojek, Tokopedia, or GoBiz applications. In addition, for the public at large, share orders can be made through an e-IPO mechanism through a securities company.

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With the extension of the initial offering period until March 24, 2022, GoTo targets to be able to conduct a public offering in the first week of April 2022.

President Director of IndoPremier Sekuritas Moelonoto The said, GoTo’s IPO step shows GoTo’s confidence in the strength of the capital market and conducive macro conditions in Indonesia.

The high enthusiasm of potential investors in welcoming the GoTo IPO plan shows their confidence in GoTo as the largest integrated digital ecosystem in Indonesia that combines three service platforms—on-demand, e-commerce, and financial technology.

“This is able to serve two-thirds of Indonesian household consumption needs, as well as the growth of GoTo’s business performance which continues to increase, especially since the integration between Gojek, Tokopedia and GoTo Financial,” explained Moelonoto.