GoTo Targets Rp 17.99 Trillion from IPO; Here's How It Plans to Use the Funds

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Reza Pahlevi 15/03/2022 11:00 WIB

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The proceeds from GoTo's IPO will be used for GoTo's, Tokopedia's, and GoPay's working capital, as well as for Gojek's expansion in Singapore and Vietnam.

Use of Funds from GoTo's Initial Public Offering (IPO)

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Use of Funds from GoTo's Initial Public Offering (IPO)

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GoTo will conduct an initial public offering (IPO) targeting Rp17.99 trillion in funds. So, how will these funds be used?

According to its prospectus, 30% of the funds will be used by GoTo itself as working capital. This working capital includes customer acquisition, sales and marketing, product development, and operational expenses.

Furthermore, another 30% will be used for the Tokopedia marketplace. Then, 25% of the remaining funds will be allocated to the GoPay digital wallet business line.

The remaining 5% of the funds will be used for PT Multifinance Anak Bangsa, part of GoFinance; 5% will be used for Gojek Singapore; and 5% will be used for Gojek Vietnam.

In this IPO, GoTo will release 52 billion shares, or 4.35% of its total shares, to the public. The share price is set at Rp316 - Rp346 per share.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."