GoTo completes historic listing on Indonesian Stock Exchange

Jakarta, Indonesia–(BUSINESS WIRE)–PT GoTo Gojek Tokopedia Tbk (“GoTo Group” or the “Company”), Indonesia’s largest digital ecosystem, today announced its listing on the main board of the Indonesian Stock Exchange (IDX), where its shares will trade under stock code GOTO. The total amount raised through the Group’s initial public offering (IPO) process is approximately $1.1 billion (IDR 15.8 trillion), of which $954.7 million (13. IDR 7 trillion) of proceeds plus $146.3 million (IDR 2.1 trillion) from treasury shares for over-allotment purposes, representing a market capitalization of approximately $28 billion (400,300 billion IDR).

Based on total funds raised, GoTo’s IPO is the third largest in Asia and the fifth largest in the world this year.1 About 300,000 investors participated – the highest number ever to participate in an IPO on the IDX.

As part of the drive to make this IPO one of the most inclusive, GoTo introduced the Gotong Royong equity program. The company has allocated over US$20 million2 to driver-partners, as well as the creation of the GoTo Future Fund – an endowment fund that aims to support initiatives and solutions that benefit the lives of stakeholders in the GoTo ecosystem. Loyal traders and consumers in Indonesia were able to benefit from the IPO, enjoying priority access to order a fixed allocation of GoTo shares. In addition, as part of this program, all full-time employees have been integrated into the Group’s long-term incentive plan.

Andre Soelistyo, CEO of GoTo Group, said, “Today, we are embarking on a new adventure as a public company. Our listing on the Indonesia Stock Exchange will strengthen our ability to pursue our mission and better serve our customers. Despite global market volatility, investor interest has been strong, reflecting growing demand in Southeast Asia for our on-demand, e-commerce and fintech services, as well as confidence in GoTo’s position as the largest digital ecosystem in Indonesia.

“Ultimately, the people who deserve the most recognition for today’s milestone are those who have worked so hard to bring our business to life. Our success can be entirely attributed to our driver-partners, marketers , consumers and employees, and so it was a priority for us to ensure they could benefit from our IPO through the Gotong Royong Share Program, one of the most inclusive share ownership programs in the world. world today. With all of these groups working together, we are truly unstoppable as we pursue our mission to enable progress in Indonesia and Southeast Asia.

“I would also like to express our gratitude to the Indonesian government, OJK and IDX for their support during the IPO process and for their continued commitment to the growth of Indonesia’s digital economy. Together, we can help supporting Indonesia’s digital transformation by leveraging technology for the benefit of all.”

The Listing Ceremony and Handover of Listing Certificate took place today at the Indonesia Stock Exchange, Jakarta, attended by Coordinating Minister of Economic Affairs Airlangga Hartarto, Chairman of the Board of Commissioners of OJK Wimboh Santoso and IDX Chairman and CEO Inarno. Djajadi.

GoTo Group’s listing represents a historic moment for the Company and the IDX, as the first listing under the new multiple voting rights regulations established by the OJK. The company has offered a total of 46.7 billion Series A shares, comprising newly issued shares and treasury shares (for over-allotment purposes) at an offer price of IDR 338, representing a projected market capitalization of approximately $28 billion (IDR 400.3 trillion) upon admission.

A long-term growth strategy

GoTo Group plans to use the proceeds from the IPO, net of issuance costs, as working capital to support the company’s growth strategy, which is based on four pillars:

  1. Drive customer growth and engagement by cross-pollination and by increasing usage among consumers, merchants and driver-partners.
  2. Improve hyperlocal experiences and infrastructure to provide consumers with more convenience in their daily digital lives.
  3. Strengthen the synergies of the ecosystem including enhanced loyalty and rewards programs, deeper financial services offerings and further development of value-added merchant services.
  4. Invest in high growth areasincluding deeper population expansion in Indonesia, Singapore and Vietnam, targeted strategic investments, investments in technology and infrastructure, and the transition to electric vehicles.

GoTo Group is the market leader in Indonesia in each of its business sectors and by strengthening synergies and network effects within its ecosystem, the Group is well positioned for further growth. GoTo Group has already achieved:

  • Pro forma3 Gross transaction value (GTV) of IDR 414.2 trillion ($28.8 billion) in the 12 months ended September 30, 2021

  • Pro forma gross revenue of IDR 15.1 trillion ($1 billion) in the 12 months ended September 30, 2021

  • Pro forma orders of approximately 2 billion in the 12 months ended September 30, 2021

  • Over 55 million annual transacting users (ATUs) on a pro forma basis, as of September 30, 2021

  • Over 2.5 million registered partner drivers, as of September 30, 2021

  • Over 14 million merchants registered, as of September 30, 2021

Indonesia is Southeast Asia’s largest economy, contributing a GDP of over $1 trillion and a population of 274 million – the fourth largest in the world. Indonesia and Southeast Asia have a young and very tech-savvy population with growing purchasing power which is driving the growth of the region’s digital economy.

Growing demand for services in the GoTo Group ecosystem, driven by growing digital adoption among Southeast Asian consumers, has underpinned the group’s strong financial performance in recent years. GoTo Group’s pro forma GTV increased 46% CAGR between 2018 and 2020, and 62% YoY between Q3 2020 and Q3 2021. Pro forma gross revenue increased 56% CAGR between FY2018 and FY2020 and 55 % YoY between Q3 2020 and Q3 2021. .

PT Indo Premier Sekuritas, PT Mandiri Sekuritas and PT Trimegah Sekuritas Indonesia Tbk acted as Joint Lead Underwriters for the IPO.

Notes to editors:

https://www.gotocompany.com/investor-relations/prospectus

For more information about GoTo and the IPO, please see the prospectus at gotocompany.com.

Definition of pro-forma: The pro forma information of GTV, Orders, ATUs and Gross Revenues provided is as if Tokopedia had been consolidated by GoTo since January 1, 2018.

Exchange rate: 14,350 IDR = 1 USD

About GoTo Group:

PT GoTo Gojek Tokopedia Tbk (GoTo Group) is Indonesia’s largest digital ecosystem. GoTo’s mission is to “Enable Progress” by providing technology infrastructure and solutions that help everyone access and thrive in the digital economy. The GoTo ecosystem consists of on-demand services (mobility, food delivery and logistics), e-commerce (third-party marketplaces + official stores, instant commerce, interactive commerce and rural commerce) and fintech (payments, services financial services, and technological solutions for merchants) via the Gojek, Tokopedia and GoTo Financial platforms.

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1 Source: Bloomberg

2 Value based on opening share price of IDR 338 per share

3 See Notes to Editors for pro forma definition.

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