The IPOX® Watch - GoTo

Company Description

Headquartered in Jakarta, Indonesia, PT GoTo Gojek Tokopedia Tbk was established from a merger between on-demand services app Gojek and e-commerce marketplace Tokopedia in 2021.  GoTo operates an integrated digital platform-based ecosystem that provides on-demand services (mobility, food delivery, and on-demand logistics), e-commerce, and payments and financial technology services in Indonesia, Singapore, and Vietnam.     

Business Model

PT GoTo Gojek Tokopedia Tbk generates revenues primarily through services fees, delivery services, transaction and payment fees, advertising fees, sales of merchandise goods and other services.

IPO History

On 04/11/2022, PT GoTo Gojek Tokopedia Tbk began trading on the Indonesian Stock Exchange (IDX) led by Indo Premier Securities, Mandiri Securities, and Trimegah Securities. The Southeast Asia super-app operator offered 40,615,056,000 shares at 338.00 rupiah per share, little above mid-point of its expected price range (Rp316 - Rp346). GoTo was valued at ca. 400.3 trillion (ca. US$28 billion) at offer. The shares opened at 400 rupiah and closed the first day at Rp 382.00 (▲13.02%).

PT GoTo Gojek Tokopedia Tbk was included in the IPOX® International Index (ETF: FPXI US) on 04/12/2022, and currently weighs ca. 4.32% of the portfolio.

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