JAKARTA – The buyback of 2.07 billion shares by PT GoTo Gojek Tokopedia Tbk (GOTO) throughout February 2025 has failed to boost the share price of this technology sector issuer.

Following the buyback, GOTO's treasury shares increased to 1.95% of total shares outstanding. This represents 23.18 billion shares.

Nevertheless, GOTO’s share price fell by 7.41% by the end of February 2025, closing at IDR 75 per share. At the beginning of February, GOTO's share price was still at IDR 81 per share.

Throughout February 2025, the average closing price of GOTO shares was IDR 80.65 per share. Assuming this price, GOTO spent approximately IDR 162.72 billion on the share buyback in February 2025.

GOTO’s largest shareholder in February 2025 was SVF GT Subco (Singapore), with a 7.648% stake. Additionally, TaoBao China Holding Limited owned 7.432% of the shares. (KR/ZH)