GoTo raises about US$1.1 billion in IPO priced at middle of range

Bloomberg3/25/2022 02:07 PM GMT+08  • 1 min read
GoTo raises about US$1.1 billion in IPO priced at middle of range
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GoTo Group, an Indonesian startup giant, raised about US$1.1 billion ($1.49 billion) after pricing the deal at the middle of its price range.

The Jakarta-based company, formed by the combination of ride-hailing company Gojek and e-commerce firm PT Tokopedia, priced the IPO at 338 rupiah (3.193 cents) a share, according to people familiar with the matter, who asked not to be identified as the information is private. That’s in the middle of the 316 to 346 rupiah range announced earlier.

GoTo’s listing is bucking a global trend of companies scrapping or delaying IPOs due to the ensuing market volatility in the wake of the Ukraine war.

Representatives for GoTo didn’t immediately respond to requests for comment.

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