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GoTo Shares Jump After Raising $1.1 Billion in One of 2022’s Biggest IPOs

  • Investors bet on consumer internet startup’s growth prospects
  • Company is local leader in ride-hailing and delivery services
A Gojek driver delivers a Tokopedia order in Jakarta.

A Gojek driver delivers a Tokopedia order in Jakarta.

Photographer: Dimas Ardian/Bloomberg
Updated on

GoTo Group, Indonesia’s biggest tech company, surged on its first day of trading after raising $1.1 billion in one of the world’s largest initial public offerings this year.

The shares jumped as much as 23% and closed the day 13% higher at 382 rupiah in Jakarta, valuing the company at about $31.5 billion.