Tokopedia, GoPay Get Lion’s Share of GoTo IPO Proceeds
Jakarta. Leading e-commerce operator Tokopedia and digital payment platform GoPay have received nearly half of the Rp 13.6 trillion ($908 million) proceeds generated from the initial public offering by parent company GoTo Gojek Tokopedia (GOTO) last year.
GoTo raised Rp 13.72 trillion from the public offering but had to spend Rp 153.4 billion on IPO costs.
In a filing to the Indonesia Stock Exchange on Friday, GoTo said that Tokopedia, Indonesia’s biggest digital marketplace, received Rp 4.07 trillion of the proceeds, while Dompet Anak Bangsa, the owner of GoPay, was handed Rp 2.15 trillion.
GoTo itself allocated Rp 3.67 trillion to strengthen its own capital, GoTo Corporate Secretary Koesoemohadiani said.
Additionally, GoTo injected funds into its overseas business arms, with Rp 274.86 billion allocated for Velox Digital Singapore and Rp 273.96 billion for Go Viet Technology Trading Joint Stock.
In total, as of June 30, GoTo has allocated Rp 10.45 trillion of the IPO proceeds.
With the allocation of funds, GoTo still has Rp 3.12 trillion remaining from the IPO proceeds. Furthermore, the company reported cash reserves of Rp 26.7 trillion as of March 31.
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