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GoTo Raises About $1.1 Billion in IPO Priced Near Mid-Range

  • IPO priced at 338 rupiah a share, near the middle of range
  • GoTo’s IPO is second-largest IPO announced since Ukraine war
A Gojek driver picks up a PT Tokopedia order at a Titipaja fulfillment center in Jakarta in May 2021. 

A Gojek driver picks up a PT Tokopedia order at a Titipaja fulfillment center in Jakarta in May 2021. 

Photographer: Dimas Ardian/Bloomberg
Updated on

GoTo Group, an Indonesian startup giant, raised about $1.1 billion in one of the world’s largest initial public offerings announced since the Russian invasion of Ukraine, pricing the deal near the middle of the range.

The Jakarta-based company, formed by the merger of Indonesia’s two most valuable startups, priced the IPO at 338 rupiah a share, according to people familiar with the matter, who asked not to be identified as the information is private. That’s just above the middle of the 316 rupiah to 346 rupiah range announced earlier.