GoTo Confirms Talks With Holders for Controlled Share Sale
- Aiming to avoid a potential stock crash when lock-up expires
- Company gives no assurance transaction will take place
Goto Group at the lobby of the Indonesia Stock Exchange (IDX) in Jakarta, in April 11.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s largest tech company GoTo Group said it is in talks with its owners for a controlled sale of their stakes, seeking to avoid a potential stock slump when a lock-up on their holdings ends next month.
The ride-hailing and e-commerce provider is discussing stake sales that would occur after the lock-up period expires on Nov. 30, the company said in a statement Monday. GoTo wouldn’t sell any new shares as part of the plan, and the company said there is no assurance that a transaction will take place.