Retail Investors Support GoTo’s IDX Debut

PT GoTo Gojek Tokopedia Tbk (GOTO) initial public offering period ended on April 7. Underwriters called the tech giant's stocks were oversubscribed by 15 times its available amount.

PT Indo Premier Sekuritas President Director Moleonoto The said high market participants’ interest was on the back of GOTO's shares oversubscription. "There were around 300,000 investors who participated in the GOTO IPO. This achievement shows the public's extraordinary interest in GOTO's business model and prospects," Moleonoto said. Investors’ participation surpassed that of PT Bukalapak.com Tbk (BUKA) in August 2021, which recorded 100,000 investors with shares oversubscribed by 8.7 times.

GOTO set the IPO price at Rp 338 per share. The company offered 40.61 billion new shares or 3.43 percent of its paid-in capital. Thus, Gojek and Tokopedia’s parent entity will raise Rp 13.73 trillion in proceeds.