SINGAPORE (Reuters) -GoTo Group, Indonesia’s biggest tech firm, said on Thursday it plans to raise $1.1 billion in an initial public offering (IPO), pricing the offer in the top half of its indicative range after receiving regulatory approval.
GoTo, formed last year by the merger of ride-hailing-to-payments firm Gojek and e-commerce leader Tokopedia, surprised some investors and analysts when it launched its IPO process earlier this month, braving turbulence in global equity markets.
“We are pleased with the investor response, which has remained resilient, despite global macro and market volatility,” Andre Soelistyo, GoTo Group’s CEO, said in a statement.
Reuters reported last week that GoTo had received sufficient investor orders for its IPO that could raise at least $1.1 billion within its targeted price band. [L2N2VS03I]
($1 = 14,340.0000 rupiah)
(Reporting by Anshuman Daga; Editing by Jacqueline Wong and Jane Wardell)
