GoTo has appointed underwriters to help with its $1 billion IPO early in the first quarter of next year.
Source: Reuters | Editor: Khomarul Hidayat
KONTAN.CO.ID – JAKARTA. Plan initial public offering (IPO) GoTo is getting brighter. Indonesia’s largest technology company has appointed an underwriter to assist in its US$1 billion initial public offering which will take place in the early first quarter of next year.
Multiple sources Bloomberg said GoTo, the company resulting from the merger between the ride-hailing application Gojek and e-commerce Tokopedia, had hired PT Mandiri Sekuritas and PT Indo Premier Sekuritas, to assist in the IPO process.
Asked for confirmation Reuters Regarding this, GoTo representatives refused to comment.
Last month, GoTo said it had raised US$1.3 billion at the close of its first pre-IPO funding round.
Two sources told Reuters, GoTo will IPO on the Indonesia Stock Exchange (IDX) in the first half of next year. Then, listings on stock exchanges in the United States (US) are expected to follow.
Indonesia wants its tech startup giant to launch a share sale on a local exchange and has issued rules on some shares with voting rights to pave the way for IPOs for unicorn companies.
Earlier this year, the first unicorn to be listed on the Indonesia Stock Exchange was PT Bukalapak.com by raising US$ 1.5 billion, which is the largest record IPO in Indonesia.
Also Read: GoTo and Blibli welcome the rule of multiple voting rights shares (SHSM)
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