PT GoTo Gojek Tokopedia was dropped from the list of the top 10 companies with the largest market capitalization (big cap) in Indonesia at the end of 2022.
According to data from the Indonesia Stock Exchange (IDX), as of December 27, 2022, the market capitalization of the issuer with the code GOTO was only Rp107.78 trillion.
This value has fallen by approximately 77% compared to April 11, 2022, when GOTO first went public. At that time, GOTO achieved a market capitalization of Rp452 trillion and ranked 4th among the top 10 big cap issuers.
The decline in GOTO's market capitalization is in line with the decrease in its share price. From its initial listing on the exchange until December 12, 2022, the price of GOTO shares had plummeted by approximately 77%.
This decline certainly impacted shareholders, especially the board of directors and commissioners who control a large portion of GOTO's shares.
Based on the disclosure report on the IDX, the 'boss' of GOTO who controls the largest number of shares is William Tanuwijaya. Below him are Andre Soelistyo, Kevin Bryan Aluwi, Melissa Siska Juminto, and Garibaldi Tohir.
As of December 27, 2022, the largest domestic big cap issuer was PT Bank Central Asia. The issuer with the code BBCA has a market capitalization of Rp1,050 trillion.
Ranked second is the coal mining company PT Bayan Resources. The issuer with the code BYAN has surged nearly 600% in the last year, reaching a market capitalization of Rp780 trillion.
Below it are issuers from the banking sector (BRI, Bank Mandiri, BNI), telecommunications (Telkom Indonesia), trade (Astra International), chemical industry (Chandra Asri Petrochemical), consumer products (Unilever Indonesia), and mining (Adaro Energy), with details as shown in the graph.