15 Apr 2022

PT GoTo Gojek Tokopedia Tbk (“GoTo”)’s initial public offering

Partners Bono Daru Adji and Intan Paramita (Mita) from Assegaf Hamzah & Partners acted for PT GoTo Gojek Tokopedia Tbk (“GoTo”), the largest technology group in Indonesia, through the Gojek, Tokopedia and GoTo Financial brands, on its initial public offering (“IPO”). The total amount raised from the group’s IPO process is approximately USD 1.1 billion (IDR 15.8 trillion), comprising USD 954.7 million (IDR13.7 trillion) in proceeds plus USD 146.3 million (IDR 2.1 trillion) from treasury shares for the purpose of over-allotment, representing a market capitalisation of approximately USD 28 billion (IDR 400.3 trillion).