GoTo’s IPO Becomes the First Listed Company to Implement “Multiple Voting Shares”

JAKARTAKOMPAS.com – The IPO of PT GoTo Gojek Tokopedia Tbk (GOTO) on April 11, 2022 became the first listed company to implement multiple voting shares (MVS) or multiple voting shares (SHSM).

This rule gives greater voting power to the founder so that the company’s strategic policies are in accordance with the vision and mission of the founders.

In its official Instagram upload, the Financial Services Authority (OJK) wrote, ready to support expanding opportunities for companies startup Indonesia is listed on the Indonesian stock exchange.

Among other things, through policy breakthroughs multiple voting shares (MVS) which has been realized to be widely used by startup or similar companies to conduct an initial public offering (IPO) on the Indonesia Stock Exchange,” wrote the Instagram account @ojkindonesia quoted by Kompas.com Tuesday (12/4/2022).

Also read: 7 Interesting Facts about GoTo Flooring on the Indonesia Stock Exchange

This OJK policy is an effort to encourage financial market deepening, particularly the capital market sector.

This is done by accommodating companies that create new innovations with high levels of productivity and growth (new economy) to conduct a Public Offering of Equity Securities in the form of shares and list the Securities (listing) on the Indonesia Stock Exchange.

Policy multiple voting shares (MVS) aims to protect the company’s vision and mission in accordance with the goals of the founders or founders in developing business activities run by the company.

Also read: 5 Facts about GoTo Stocks After Listing on the IDX, Raised IDR 15.8 T to Become the Third Largest IPO in Asia

Coordinating Minister for Economic Affairs Airlangga Hartanto hopes that there will be more initial public offering (IPO) others in the technology sector.

“Appreciation also goes to OJK for making a breakthrough. This must be appreciated, because this breakthrough allows digital companies to enter. This is a sign of an IPO for a technology company or startup no need to be abroad anymore. So for the initial stage, it can be in Indonesia,” he said in his speech at the IDX on Monday (11/4/2022).

He also said that the initial public offering of shares or initial public offering (IPO) PT GoTo Gojek Tokopedia Tbk (GOTO) contributed 2.8 percent to gross domestic product or GDP.

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