GoTo Completes Landmark Listing on the Indonesia Stock Exchange
JAKARTA, Indonesia–PT GoTo Gojek Tokopedia Tbk (“GoTo Group” or the “Company”), the largest digital ecosystem in Indonesia, as well as one of the Primavera’s portfolio companies, today announced its listing on the Main Board of the Indonesia Stock Exchange (IDX), where its shares will trade under the stock code GOTO.
Andre Soelistyo, GoTo Group CEO said, “Today we embark on a new journey as a public company. Our listing on the Indonesia Stock Exchange will strengthen our ability to pursue our mission and better serve customers. Despite global market volatility, investor interest has been strong, reflecting the rapidly growing demand in Southeast Asia for our on-demand, e-commerce and financial technology services, as well as confidence in GoTo’s position as the largest digital ecosystem in Indonesia.
A long-term strategy for growth
GoTo Group plans to use the proceeds from the IPO, after deducting issuance costs, for working capital to support the Company’s growth strategy, comprising four pillars:
- Driving customer growth and engagement through cross pollination and by increasing usage among consumers, merchants and driver-partners.
- Enhancing hyperlocal experiences and infrastructure to provide consumers with more convenience in their digital daily lives.
- Strengthening ecosystem synergies including enhanced loyalty and rewards programs, deeper financial services offerings and further development of value added merchant services.
- Investing in high growth areas, including deeper demographic expansion in Indonesia, Singapore and Vietnam, targeted strategic investments, investment in technology and infrastructure, and the transition towards electric vehicles.
About GoTo Group:
PT GoTo Gojek Tokopedia Tbk (GoTo Group) is the largest digital ecosystem in Indonesia. GoTo’s mission is to “empower progress” by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. The GoTo ecosystem consists of on-demand services (mobility, food delivery, and logistics), e-commerce (third party marketplaces + official stores, instant commerce, interactive commerce, and rural commerce), and financial technology (payments, financial services, and technology solutions for merchants) through the Gojek, Tokopedia, and GoTo Financial platforms.