Softbank and Alibaba to Profit from GoTo's IPO

By Editorial Team 08/04/2022
initial public offering
Summary

PT GoTo Gojek Tokopedia Tbk's (GOTO) listing is on its way as one of the largest IPOs in Indonesia this year. The tech giant's successful listing will surely generate huge returns for early investors, particularly Alibaba Group Holding Ltd and Vision Fund SoftBank Group Corp. Quoting Bloomberg, GoTo's IPO value of US$ 1.1 billion meant that their combined stakes in the company could reach up to US$5 billion, marking their first big windfall despite the decline of their shares in recent months.

Several GoTo founders and directors will also benefit from GoTo's IPO. GoTo CEO Andre Soelistyo's stake will increase to US$235 million after the listing, while the stakes of Kevin Aluwi and William Tanuwijaya, as founders of Gojek and Tokopedia, will be worth US$213 million and US$494 million, respectively.

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