SINGAPORE (Reuters) -GoTo Group, Indonesia’s greatest tech agency, mentioned on Thursday it plans to raise $1.1 billion in an preliminary public providing (IPO), pricing the provide within the top half of its indicative vary after receiving regulatory approval.
GoTo, fashioned final 12 months by the merger of ride-hailing-to-payments agency Gojek and e-commerce chief Tokopedia, shocked some buyers and analysts when it launched its IPO course of earlier this month, braving turbulence in world fairness markets.
“We are happy with the investor response, which has remained resilient, regardless of world macro and market volatility,” Andre Soelistyo, GoTo Group’s CEO, mentioned in a press release.
Reuters reported final week that GoTo had acquired enough investor orders for its IPO that might raise at least $1.1 billion inside its focused price band. [L2N2VS03I]
($1 = 14,340.0000 rupiah)
(Reporting by Anshuman Daga; Editing by Jacqueline Wong and Jane Wardell)
