Buzzer Issue Overshadows GoTo's IPO, What's the Effect?

In the last few days, there have been a lot of Twitter tweets from spambots seemingly promoting the initial public offering (IPO) of PT GoTo Gojek Tokopedia (GOTO). This then invoked talks on social media, accusing that GoTo used buzzers to promote the IPO.

Based on Katadata monitoring,  a thread was uploaded by a Twitter user @Arifai777, containing accounts with few followers and promoting GoTo shares. @Arifai777 said that the buzzers had started three days after the company held a public expose last week. One of them is @hanny_ridho, who uploaded a tweet about GoTo shares prospect.

GoTo's Corporate Secretary Koesoemohadiani firmly denied that GoTo used spam or promotions through buzzers to sell IPO shares. "This action is clearly not part of the company's actions because we understand very well the negative impact of such actions on the company's reputation and the GoTo initial public offering process. We have taken quick measures and reported the contents to Twitter," Diani said.