Former by the merger of Indonesia’s two most valuable startups last year, Gojek and Tokopedia, the Goto IPO will be a milestone for Southeast Asia’s biggest internet economy.
Indonesia’s GoTo Group raised 15.8 trillion rupiah ($1.5 billion; US$1.1 billion) in one of the world’s largest initial public offerings this year.
The ride-hailing, e-commerce and fintech company priced its offering of 46.7 billion shares at 338 rupiah apiece, the company said in a statement on Thursday. The shares were marketed at 316 rupiah to 346 rupiah each. The pricing represents a projected market capitalization of about US$28 billion after the offering.
