GOTO Stock Price Plummets to Rp67, Lowest Level Since IPO

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Cindy Mutia Annur 13/10/2023 19:53 WIB

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GOTO's share price plummeted to below Rp67 per share at the close of trading on Friday, October 13, 2023. This is the lowest level since the issuer's initial public offering on the Indonesia Stock Exc

GoTo Gojek Tokopedia Tbk Stock Price Movement (April 11, 2022 - October 13, 2023)

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GoTo Gojek Tokopedia Tbk Stock Price Movement (April 11, 2022 - October 13, 2023)

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PT GoTo Gojek Tokopedia Tbk (GOTO) share price plummeted to Rp67 per share at the close of trading on Friday, October 13, 2023.

This is the lowest level since the technology issuer went public on the Indonesia Stock Exchange (IDX) on April 11, 2022, when GOTO shares closed at Rp382 per share.

According to Yahoo Finance data, the GOTO share price today fell another 8.22% from its closing position on Thursday, October 12, 2023, of Rp73 per share. GOTO shares briefly traded in positive territory at the start of trading, reaching a low of Rp66 per share and a high of Rp75 per share.

Trading volume reached 8.92 billion shares, with a transaction value of Rp617.04 billion. The trading frequency was recorded at 55,384 times.

Furthermore, GOTO's market capitalization continues to shrink. As of today, its market capitalization is recorded at Rp80.49 trillion, a significant drop from its initial market capitalization of Rp452 trillion when it first listed on the stock exchange.

The trend shows a severe decline in GOTO's share price since the end of last year, as seen in the chart above.

The recent slump in GOTO shares comes amid the company's plan for a Rights Issue without Pre-emptive Rights (PMHMETD) or private placement.

Based on the disclosure on the Indonesia Stock Exchange (IDX) on Tuesday, October 10, 2023, the issuance of new shares by GOTO resulted in a total of 1.2 trillion fully paid-up shares after the private placement.

Through this corporate action, the International Finance Corporation (IFC), part of the World Bank Group, became a new investor in GOTO. The combined Gojek and Tokopedia company issued 17.04 billion new Series A shares, which were subscribed by IFC at an execution price of Rp90 per unit.

Editor : Erlina Fury Santika

"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."

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GOTO Stock Price Plummets to Rp67, Lowest Level Since IPO

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GOTO Stock Price Plummets to Rp67, Lowest Level Since IPO

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