GoTo share price soars on first day of trading

The Indonesian unicorn forged ahead with its listing despite a weak stock markets, inflationary uncertainty and the war in Ukraine.

GoTo share price soars on first day of trading

The Indonesian unicorn forged ahead with its listing despite a weak stock markets, inflationary uncertainty and the war in Ukraine.

Gojek driverGojek driver

April 12, 2022

After successfully raising $1.1 billion on the Indonesian Stock Exchange IDX last week, shares of Indonesian super-app, GoTo, soared by 23% on the company’s first day of trading on Monday April 11.

The performance gives a boost to the IDX and could help reinstate confidence in IPO markets, but it may be too soon to draw meaningful conclusions about GoTo’s long term performance.

“I think the IPO went very well, considering everything that’s happening both in the market and globally,” said Pandu Sjahrir, IDX commissioner, in an interaction with FinanceAsia.

“I think it also shows that a very large...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Markets Unicorns #goto #ipo #indonesia #idx #public listing #grab #valuation #unicorns