GOTO-GROUP
PT GoTo Gojek Tokopedia Tbk (“GoTo Group'' or the “Company”), the largest digital ecosystem in Indonesia, today announced its listing on the Main Board of the Indonesia Stock Exchange (IDX), where its shares will trade under the stock code GOTO. The total amount raised from the Group’s Initial Public Offering (IPO) process is approximately USD1.1 billion (IDR15.8 trillion), comprising USD954.7 million (IDR13.7 trillion) in proceeds plus USD146.3 million (IDR2.1 trillion) from treasury shares for the purpose of over allotment, representing a market capitalisation of approximately USD28 billion (IDR400.3 trillion).
Based on the total funds raised, GoTo’s IPO is the third largest in Asia and fifth largest in the world this year.1 Around 300,000 investors have participated - the highest ever number to take part in an IPO on the IDX.
As part of the drive to make this IPO one of the most inclusive, GoTo has introduced the Gotong Royong Share Program. The company has allocated over US$20 million2 to driver-partners, as well as forming the GoTo Future Fund - an endowment fund that aims to support initiatives and solutions that benefit the lives of stakeholders across the GoTo ecosystem. Loyal merchants and consumers in Indonesia were able to benefit from the IPO, receiving priority access to order a fixed allocation of GoTo shares. Furthermore, as part of the program, all full time employees have been made participants in the Group's Long-Term Incentive Plan.
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.
“Ultimately, the people who deserve the most recognition for today's milestone are the people who worked so hard to breathe life into our business. Our success can be wholly attributed to our driver-partners, merchants, consumers and employees, and it was therefore a priority for us to ensure they could benefit from our IPO via the Gotong Royong Share Program, one of the most inclusive share ownership programs in the world today. With all of these groups working together, we are truly unstoppable as we pursue our mission to empower progress for Indonesia and Southeast Asia.
“I would also like to express our gratitude to the Government of Indonesia, the OJK, and IDX for their support during the IPO process, and for their continued commitment to the growth of Indonesia’s digital economy. Together we can help to support Indonesia’s digital transformation by leveraging technology for the benefit of all.”
The listing ceremony and the handover of the listing certificate took place today at the Indonesia Stock Exchange, in Jakarta, and was attended by Coordinating Minister for Economic Affairs Airlangga Hartarto, Chairman of the Board of Commissioners of OJK Wimboh Santoso, and IDX’s President Director Inarno Djajadi.
GoTo Group’s listing represents a historic moment for the Company and the IDX, as the first listing to be carried out under the new regulations on multiple voting rights set out by the OJK. The Company offered a total of 46.7 billion Series A shares, comprising newly issued, and treasury shares (for the purpose of over allotment) at an offer price of IDR338, representing a projected market capitalization of approximately USD28 billion (IDR400.3 trillion) at admission.
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.
GoTo Group is the market leader in Indonesia in each of its business verticals and by strengthening the synergies and network effects from within its ecosystem, the Group is well positioned for continued growth. GoTo Group has already achieved:
- Pro forma3 Gross Transaction Value (GTV) of IDR414.2 trillion (USD28.8 billion) in the 12-months ended 30 September 2021
- Pro forma Gross Revenue of IDR15.1 trillion (USD1 billion) in the 12-months ended 30 September 2021
- Pro forma Orders of approximately 2 billion in the 12-months ended 30 September 2021
- Over 55 million annual transacting users (ATU) on a pro forma basis, as of 30 September, 2021
- Over 2.5 million registered driver partners, as of 30 September, 2021
- Over 14 million registered merchants, as of 30 September, 2021
Indonesia represents Southeast Asia’s largest economy, contributing a GDP of more than USD1 trillion and a population of 274 million - the fourth largest in the world. Indonesia and Southeast Asia have a young and highly tech-savvy population with increasing spending power that is driving the growth of the region’s digital economy.
Growing demand for services across GoTo Group’s ecosystem, driven by increasing digital adoption among consumers in Southeast Asia, has underpinned the Group’s strong financial performance in recent years. GoTo Group’s pro forma GTV grew at 46% CAGR between 2018 and 2020, and at 62% YoY between Q3 2020 and Q3 2021. Pro forma gross revenue grew at 56% CAGR between FY2018 and FY2020 and 55% YoY between Q3 2020 and Q3 2021.
PT Indo Premier Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk acted as the Joint Lead Underwriters for the IPO.
Notes to editors:
https://www.gotocompany.com/investor-relations/prospectus
For more information on GoTo and the IPO, please see the Prospectus at gotocompany.com.
Definition of pro-forma : The pro forma information of GTV, Orders, ATU and gross revenue provided is as if Tokopedia had been consolidated by GoTo since January 1, 2018.
Exchange rate: IDR14.350 = USD1
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.
___________________________
1
Source: Bloomberg
2
Value based on opening share price of IDR 338 per share
3
See notes to editors for pro forma definition.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220410005062/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Access Advance Welcomes Global Technology Leaders as Licensees and Licensors to New Video Distribution Patent Pool2.7.2025 02:00:00 CEST | Press release
Access Advance LLC ("Advance") today announced the inaugural roster of licensees and licensors for its Video Distribution Patent ("VDP") Pool, marking a significant milestone in the program's rapid market adoption since its January announcement. The participation of major global companies heavily involved in video codec technology demonstrates strong industry support for the comprehensive licensing solution covering HEVC, VVC, VP9, and AV1 codecs. The VDP Pool has successfully attracted a group of licensees/licensors including ByteDance, Kuaishou, NTT Docomo, and Tencent. This represents the beginning of what Access Advance expects to be widespread adoption among content streaming providers seeking simplified codec licensing. The licensees’ participation provides immediate access to the wide-ranging patent portfolio while benefiting from the fixed tiered pricing structure designed to scale with business size. "We're pleased to welcome ByteDance, Kuaishou, NTT Docomo and Tencent as our
Intralot S.A. to Acquire Bally’s International Interactive Business in a Transaction that Creates a Global Gaming Technology and Services Company in Lottery and Digital Online Gaming Markets1.7.2025 21:10:00 CEST | Press release
Intralot S.A. to Remain Listed on the Athens Stock ExchangeTransaction Enterprise Value of €2.7 Billion Intralot S.A. (ATSE: INLOT) (“Intralot”) and Bally’s Corporation (NYSE: BALY) (“Bally’s”) today announced that their respective Boards of Directors approved their entry into a definitive transaction agreement (“Transaction Agreement”) pursuant to which Intralot will acquire Bally’s International Interactive business (the “International Interactive Business”) in a cash-and-shares transaction that values the International Interactive Business at an enterprise value of €2.7 billion (the “Transaction”). The consideration for the acquisition of the International Interactive Business will comprise a combination of cash paid by Intralot and newly issued shares delivered by Intralot to Bally’s, as more specifically detailed below. As part of the Transaction, Intralot expects to refinance part of its existing debt facilities and Bally’s also expects to repay secured debt from the cash proceed
Valeo Foods Group Acquires Melegatti Cakes Expanding the Italian Bakery Portfolio1.7.2025 18:21:00 CEST | Press release
Valeo Foods Group, one of Europe’s leading producers of quality sweets, treats and snacks, has successfully acquired the assets of an Italian panettone, pandoro and croissant producer, Melegatti 1894 S.p.A.This acquisition is another step forward in Valeo Foods Groups’ strategy to expand its baked sweet treats portfolio, and reinforces Valeo’s commitment to bringing authentic Italian confections and established regional brands to a wider international audience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250702677156/en/ Melegatti Founded in 1894 in Verona, Melegatti has a strong reputation for artisanal cakes - particularly pandoro, panettone and filled croissants - traditional recipes, and a rich Italian heritage, Melegatti has a proud legacy founded on family values, craftsmanship, and a passion for quality. “We are excited to welcome Melegatti into the Valeo Foods Group,” said Ronald Kers, Group CEO. “This acquisition
PUMA and Borussia Dortmund Extend Partnership1.7.2025 18:18:00 CEST | Press release
Sports company PUMA has extended its long-standing partnership with Borussia Dortmund, and will continue to create products that cater to BVB’s many passionate fans around the world and match the club’s dynamic, fast paced style of football. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250701775493/en/ Sports company PUMA has extended its long-standing partnership with Borussia Dortmund, and will continue to create products that cater to BVB’s many passionate fans around the world and match the club’s dynamic, fast paced style of football. Since the start of their partnership in the 2012/13 season, BVB has celebrated many successes, such as reaching the finals of the 2012/13 and 2023/24 UEFA Champions League and winning the 2016/17 and 2020/21 German DFB Cup. The club is currently participating in the FIFA Club World Cup, where it has already reached the round of 16. BVB continues to set the standard in European football w
Gogo Galileo HDX Coming to Cessna Citation Jet Models1.7.2025 17:00:00 CEST | Press release
Expected FAA Supplemental Type Certification in late 2025 Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced Gogo Galileo HDX will be available for aftermarket installation on Cessna Citation jets after Federal Aviation Administration (FAA) Supplemental Type Certification (STC) expected in late 2025. The global Low Earth Orbit (LEO) solution allows customers to enjoy one of the best possible in-flight connectivity and aviation experiences, no matter where their journey takes them. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250701750049/en/ Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced Gogo Galileo HDX will be available for aftermarket installation on Cessna Citation jets after Federal Aviation Administration (FAA) Supplemental Type Certification (STC) expected in late 2025. (Photo: Textron Aviation) By offering Gogo Galileo HDX as an aftermarket upgrade, the Textron Av
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom