GOTO's Shareholder Composition, July 2023: What's New?

Macquarie Securities slashed the target price of PT GoTo Gojek Tokopedia Tbk (GOTO) shares by 48%, from Rp162 to Rp84 per share. Macquarie even revised its recommendation for GOTO, changing it from "outperform" to "underperform."

Macquarie Securities is a brokerage firm belonging to Macquarie Group Limited, a global diversified investment banking and financial services group.

According to *Katadata*, Macquarie downgraded GOTO's rating from "outperform" to "underperform." However, the execution under the new CEO, Patrick Walujo, will be key to a reassessment.

Regarding the shares, Goto Peopleverse Fund (GPF), one of GOTO's shareholders, previously transferred some of its holdings to employees and consultants.

Most recently, according to KSEI data, GPF distributed 21.14 million shares on August 9, 2023. Stockbit Sekuritas Digital and CGS CIMB Sekuritas Indonesia facilitated the transfer.

Following this transfer, GPF's remaining GOTO shares (a decacorn technology issuer) totaled 72.24 billion shares, or 6.1%, down from 72.26 billion shares before the transaction.

However, this data has not yet been updated in GOTO's shareholder composition.

(See also: Will Restructuring the Board of Directors Affect GOTO's Shareholder Composition in May 2023?)

Based on the latest RTI Business data update in July 2023, GPF still holds 72.53 billion shares, or 6.12%.

Besides GPF, several other major shareholders exist, both domestic and foreign. The largest is Taobao China Holding Limited, holding 104.73 billion shares, or 8.84% of GOTO's total shares in July 2023.

SVF GT Subco (Singapore) holds 91.55 billion shares, or 7.73%.

PT Saham Anak Bangsa holds 26.88 billion shares, or 2.27%.

Among the directors, William Tanuwidjaya, Andre Soelistyo, and Melissa Siska Juminto act as controlling shareholders (P). In total, they hold between 5 and 20 billion shares, with two separate listings for some names, as shown in the chart.

Newly added directors among the shareholders include Garibaldi Thohir, holding 1.05 billion shares; Wei-Jye Jacky Lo, with 503.79 million shares; and Pablo Malay, with 5.78 million shares.

The public holds 829.1 billion shares (scripless) and 2.87 billion shares (scrip).

Here's the breakdown of GOTO's shareholder composition based on the latest July 2023 update from the RTI Business application:

* Public (scripless) 829,109,687,848 shares
* Taobao China Holding Limited 104,731,124,993 shares
* SVF GT Subco (Singapore) Pte. Ltd 91,559,809,028 shares
* Goto Peopleverse Fund 72,538,658,031 shares
* PT Saham Anak Bangsa 26,888,988,841 shares
* William Tanuwidjaya (P) 12,588,634,432 shares
* William Tanuwidjaya (P) 8,260,824,541 shares
* Andre Soelistyo (P) 6,734,025,100 shares
* Kevin Bryan Aluwi (P) 5,644,873,535 shares
* Melissa Siska Juminto (P) 3,993,358,227 shares
* Kevin Bryan Aluwi (P) 3,272,789,432 shares
* Andre Soelistyo (P) 3,247,530,184 shares
* Public (scrip) 2,877,797,604 shares
* Melissa Siska Juminto (P) 1,087,292,195 shares
* Garibaldi Thohir 1,054,287,487 shares
* Wi-Jye Jacky Lo 503,793,276 shares
* Pablo Malay 5,789,132 shares
* Treasury Stock 10,264,665,616 shares
* Total 1,184,363,929,502 shares

(See also: GoTo's Revenue Increased in Q1 2023, Losses Decreased by 40%)