JAKARTA. PT GoTo Gojek Tokopedia Tbk (GOTO) announces its plan to issue new shares through a private placement of a maximum 118.43 billion series A shares or 10 of its total issued and paid-up capital of the company. 

Said plan is revealed in the information disclosure in Indonesia Stock Exchange (IDX). The management said that the purpose of GOTO's private placement remains unchanged, which is to improve business activities and reinforce its capitalisation.

The proceeds of this private placement will be split into 25% for GOTO, 15% for its subsidiary, PT Tokopedia, 15% for PT Swift Logistic Solutions, 15% for PT Dompet Anak Bangsa, and/or 15% for PT Multifinance Anak Bangsa sebesar and/or another 15% for PT Multi Adiprakasa Manunggal.

Several funding methods that GOTO may opt for in this private placement is direct issuance of shares to be taken over by investors, as well as debt conversion as a way to pay off GOTO's loans or its subsidiaries'. "GOTO has yet to hold information regarding the investor that will take over the new shares issued in this private placement," the management admitted today (3/10).

This private placement will not cause changes in vote ratio of series B to series A. GOTO has actually planned a private placement since AGMS on June 28, 2022, but has yet to be realised. Therefore, GOTO asked for another approval in June 2023's AGMS to issue new shares in private placement. (AM/ZH)