Indonesia's GoTo seeks to raise $1.26 billion in local IPO

SINGAPORE (Reuters) -Indonesia’s biggest tech firm GoTo Group is looking to raise up to 17.992 trillion rupiah ($1.26 billion) through an initial public offering (IPO) this month, the company said in its prospectus published in local media on Tuesday, as it begins the process of gauging demand for the issue.

The widely-expected IPO comes after GoTo secured more than $1.3 billion from global investors in November in the first close of its pre-IPO funding round.

GoTo was formed by merging ride-hailing-to-payments firm Gojek and e-commerce leader Tokopedia. It counts Alphabet’s Google, Tencent, Singapore state investor Temasek and Abu Dhabi Investment Authority among its backers.

($1 = 14,335.0000 rupiah)

Source: Read Full Article