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Bloomberg
GoTo Group has hired banks to help it raise around $1 billion from an initial public offering in Indonesia, according to people familiar with the matter.
The company, formed as the result of a merger by the country’s two most valuable internet startups, has picked PT Mandiri Sekuritas and PT Indo Premier Sekuritas as underwriters for a local IPO that could happen as soon as next quarter, the people said, asking not to be named as the matter is private. GoTo will be listed as PT GoTo Gojek Tokopedia, they said. A representative for GoTo didn’t immediately comment on the matter.
The Jakarta-based firm has embarked on a fundraising push in the months leading
to a planned Indonesian IPO that would be followed by a US listing.