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Company to review its opex plans, particularly salaries.

Indonesia’s biggest tech firm soared in Jakarta trade Monday after a billion-dollar IPO that was the world’s fifth-biggest this year, defying recent heavy weather for Asian tech stocks

SINGAPORE/JAKARTA — GoTo is banking for a steady market debut after raising $1.1 billion (S$1.5 billion) in a relatively cautious IPO, while a booming local share market is cementing expectations that Indonesia's largest tech firm can buck a global downtrend in tech stocks. Formed by the May merger of ride-hailing-to-payments company Gojek and e-commerce giant Tokopedia, PT GoTo Gojek Tokopedia...

By Fanny Potkin, Anshuman Daga and Stefanno Sulaiman SINGAPORE/JAKARTA (Reuters) -GoTo is banking for a steady market debut after raising $1.1 billion in

GoTo Group, Indonesia’s biggest tech company, surged on its first day of trading after raising US$1.1 billion in one of the world’s largest initial public offerings (IPOs) this year. The shares yesterday jumped as much as 23 percent in Jakarta trading and were up 15 percent to 388 rupiah at the midday break, valuing the company at about US$32 billion. GoTo’s listing bucks a global trend of companies scrapping or delaying IPOs because of worries about Russia’s invasion of Ukraine, soaring inflation and rising interest rates. As Southeast Asia’s technology industry gains steam, GoTo’...