Rumors are circulating about a merger between two Indonesian transportation giants, PT GoTo Gojek Tokopedia Tbk (GOTO) and Grab. This increasingly strong signal of unification has drawn the attention of market players.
As reported by *Katadata*, Equity Research Analyst from Kiwoom Sekuritas Indonesia, Abdul Azis Setyo Wibowo, stated that investors need to pay close attention to the corporate action of both companies.
According to Azis, if the merger between Grab and GOTO proceeds, it has the potential to drive positive growth for both entities in the future. He also believes this action can create a better business climate for these corporations.
However, Azis cautioned that the merger plan could also lead to fluctuations in GOTO's stock price, albeit temporarily. This is because investors are still awaiting confirmation of Grab's acquisition of GOTO. He recommends a "buy" for GOTO shares with a target price of Rp95.
As of May 9, 2025, the Indonesia Stock Exchange (BEI) reported that the largest GOTO shareholder, either individual or corporate, is SVF GT Subco from Singapore, holding 91.1 billion shares, or 7.65% of GOTO's total outstanding shares.
Then there's Taobao China Holding with 88.53 billion shares (7.43%). Following that is PT Saham Anak Bangsa with 26.88 billion shares (2.26%).
Then there are the current and former executives of GOTO, from William Tanuwijaya, Andre Soelistyo, to Pablo Malay. The following is a complete list of GOTO shareholders, accessed on May 9, 2025:
* SVF GT Subco (Singapore) Pte. Ltd: 91,102,207,128 shares (7.65%)
* Taobao China Holding Limited: 88,531,124,993 shares (7.43%)
* PT Saham Anak Bangsa: 26,888,988,841 shares (2.26%)
* William Tanuwijaya: 12,588,634,432 shares (1.06%)
* Andre Soelistyo: 6,734,025,100 shares (0.57%)
* Melissa Siska Juminto: 4,023,358,227 shares (0.34%)
* Kevin Bryan Aluwi: 3,272,789,432 shares (0.27%)
* William Tanuwijaya: 2,460,824,541 shares (0.21%)
* Garibaldi Thohir: 1,054,287,487 shares (0.09%)
* Melissa Siska Juminto: 1,087,292,195 shares (0.09%)
* Hans Patuwo: 574,829,533 shares (0.05%)
* Catherine Hindra Sutjahyo: 493,717,692 shares (0.04%)
* Sugito Walujo: 365,750,000 shares (0.03%)
* Pablo Malay: 247,851,117 shares (0.02%)
* Agus D.W. Martowardojo: 169,585,462 shares (0.01%)
* Andre Soelistyo: 84 shares (0%)
* Treasury shares: 27,796,417,803 shares (2.33%)
* Public shareholders (registered): 2,858,899,747 shares (0.24%)
* Public shareholders (unregistered): 920,894,413,406 shares (77.31%)
Controlling and non-controlling shares are 0%.
(See also: GoTo's Losses Shrink in Q1 2025)