A billboard advertising GoTo’s initial public offering is displayed in Jakarta, Indonesia. GoTo was formed through the merger of Gojek and Tokopedia. Photo: Bloomberg
Shares of GoTo, Indonesia’s largest tech firm, hit new low after Alibaba, SoftBank’s lock-up expires
- GoTo’s shares have fallen some 60 per cent since its debut in April, giving it a market share currently of US$10.7 billion
- Early backers like Alibaba and SoftBank had agreed to an eight-month lock-up period to support the stock price following GoTo’s IPO
A billboard advertising GoTo’s initial public offering is displayed in Jakarta, Indonesia. GoTo was formed through the merger of Gojek and Tokopedia. Photo: Bloomberg
