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GoTo aims to raise $1.7b in Indonesia IPO amid continued losses, market weakness
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GoTo, a merger between Indonesia's Gojek and Tokopedia, is going ahead with the share sale amid challenging circumstances.
PHOTO: GOTO
JAKARTA - Tech giant GoTo, formed after a merger between Indonesia’s major unicorns Gojek and Tokopedia, plans to raise 18 trillion rupiah (S$1.71 billion) from selling 4.35 per cent of its enlarged capital in its initial public offering (IPO) on the Indonesia Stock Exchange.
This is to help it compete with, among others, Singapore-based Grab.
