Jakarta, CNBC Indonesia – After only nine days on the stock exchange, the greenshoe mechanism to maintain the share price of PT GoTo Gojek Tokopedia Tbk (GOTO) has used 98.49%.
In the disclosure of information on the Indonesia Stock Exchange (IDX), PT CGS-CIMB Sekuritas Indonesia as the stabilization agent disclosed daily transaction reports as of today, Friday (22/4/2022).
In connection with price stabilization activities in the context of the initial public offering of PT GoTo Gojek Tokopedia Tbk, the stabilization agent today purchased a total of 3,461,998,700 GOTO shares at an average price of Rp 336.27 per share.
Thus, the accumulated number of GOTO shares that have been purchased to date has reached 6,000,010,000, or 98.49% of the total 6,092,258,400 shares.
“The accumulated value of shares purchased up to the reporting date is Rp 2,021,995,129,800,” wrote Sugiharto Widjaja, Director of CGS-CIMB Sekuritas Indonesia in an information disclosure, Friday (22/4/2022).
GOTO’s share price today closed stagnant at Rp 340 per share, still above the IPO price of Rp 338 per share.
Since its debut on the stock exchange on April 11, or for nine trading days, GOTO’s shares have weakened for three days and strengthened for five days, while today is stagnant.
Since the beginning of its debut until today, foreign investors recorded a net buy in all markets of Rp. 854.94 billion.
As is known, in connection with the Initial Public Offering, the Issuer together with the Underwriter plans to stabilize prices by implementing the Greenshoe Option.
The exercise of the Over Allotment Option can only be exercised in the event that the number of share subscriptions exceeds the number of Shares Offered to the Public.
The Over Allotment Option will entitle the Underwriter, who is the Managing Underwriter, to allot more up to 15% of the Offered Shares or a maximum of 6,092,258,400 Series A Shares of the Issuer’s treasury shares at the Offer Price.
The proceeds from the sale of the additional shares will then be used to stabilize prices through the issuer’s purchase of shares in the secondary market through a Stabilization Agent to ensure that the share price does not become lower than the Offer Price.
The purchase of such shares may be made in one or more transactions since the Listing Date and will expire on: (i) a date that falls on 30 Calendar Days from the Listing Date; or (ii) the date on which the Stabilization Agent has purchased through the IDX the total amount of 6,092,258,400 Series A Shares.
The party that becomes the Stabilization Agent is PT CGS-CIMB Sekuritas Indonesia.
Thus, the stabilization agent can only buy a maximum of 92,248,400 more shares or about 1.51% more shares.
Apart from greenshoe, GoTo offers 40,615,056,000 Series A Shares, all of which are New Shares issued from the Issuer’s portfolio, with a nominal value of Rp. 1 per share, which represents 3.43% of the Issuer’s issued and paid-up capital after the Initial Public Offering. (“Offered Shares”).
The new shares have been offered to the public at an Offer Price of Rp. 338 per share. The total value of the Initial Public Offering is Rp. 13,727,888,928,000.
(vap/vap)
–
