Indonesia tech firm GoTo seeks approval to issue 118.44bln shares
JAKARTA (Reuters) – Indonesia’s largest tech firm PT GoTo Gojek Tokopedia Tbk intends to difficulty a most quantity of 118.44 billion of shares price round 10% of its whole capital by way of a personal placement.
The personal placement will likely be put ahead for shareholder approval at GoTo’s annual common assembly on June twenty eighth, it mentioned in an announcement on Friday.
The tech firm seeks to boost funds to help its personal working capital and for its subsidiaries like its e-commerce unit Tokopedia, in response to the assertion.
The worth of the brand new shares shall be a minimum of 90% of the typical closing worth of GoTo’s shares for 25 consecutive buying and selling days previous to the date of utility for the extra shares, it mentioned.
Shares of GoTo closed at 304 rupiah per share on Friday or down 10% from its IPO worth of 338 rupiah.
GoTo debuted on April 11 after elevating $1.1 billion in an preliminary public providing by promoting round 4% of its shares.
($1 = 14,669.0000 rupiah)
(Reporting by Stefanno Sulaiman; Enhancing by Kanupriya Kapoor)
