In today’s briefing:
- GoTo: A Private Placement Larger Than the IPO and a 10% Potential Dilution
GoTo: A Private Placement Larger Than the IPO and a 10% Potential Dilution
- Superapp GoTo (GOTO IJ) on Friday announced that it plans to issue 118.4bn shares through a private placement subject to shareholder approval.
- This fresh issue accounts for 9.9% of the total outstanding shares of the company and the announcement comes 2-months after the company’s US$1.1bn IPO in March this year.
- GoTo’s shares are down 20.4% since its IPO and the shares are trading IDR304 a piece, well below its IPO price of IDR338 per share.
Before it’s here, it’s on Smartkarma
