Page 8 - Andre Soelistyo News Today

Retail investors in Indonesia have flocked to the home-grown tech company that brings together super-app Gojek with online marketplace Tokopedia.

It gives a much-needed boost to early backers including China's Alibaba Group Holding and SoftBank Group's Vision Fund. . Read more at straitstimes.com.

(Bloomberg) -- GoTo Group, whose business spans ride-hailing, e-commerce and fintech, became one of the world’s biggest listings this year, giving a much needed boost to early backers including China’s Alibaba Group Holding Ltd. and SoftBank Group Corp.’s Vision Fund.

Drivers who registered with Gojek between 2010 and 2016 will get 4,000 GoTo shares, equivalent to US$94 (S$128). . Read more at straitstimes.com.

GoTo announced that it would allocate over $20 million to 600,000 driver-partners ahead of its $1.1-billion IPO in Jakarta.

GoTo is to give away thousands of shares to each of 600,000 drivers as part of its US$1.1 billion Indonesian initial public offering (IPO), it said yesterday, setting a precedent for Southeast Asia’s sharing economy. Drivers who registered with the ride-hailing and delivery app between 2010 and 2016 would receive 4,000 GoTo shares, equivalent to US$94 based on the IPO price of 338 rupiah. Those who registered from 2017 to February would get 1,000 shares, part of a total pool of more than US$20...

The IPO will be the third-largest in Asia and the fifth largest in the world this year.

GoTo launched its IPO process earlier this month, braving turbulence in global stock markets. . Read more at straitstimes.com.

By Anshuman Daga SINGAPORE (Reuters) -GoTo Group, Indonesia's biggest tech firm, said it plans to raise $1.1 billion in an initial public offering (IPO),

GoTos offering will be the third-largest IPO in Asia and the fifth in the world so far this year.